Over Jan–Sep’25, exports increased +6.1% YoY, showing steady progression despite trade headwinds.
Growth was driven by Africa (+56.4% YoY) and Asia (+15.6% YoY), while exports to the EU rose +14.2% YoY and those to the US fell -27% YoY.
This shift from the US toward Asia and Africa is reshaping trade flows — a trend particularly beneficial for geared bulk carriers, as expanding South–South routes reduce empty voyages and enhance tonne-mile efficiency through two-way movements of base materials and other commodities.
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