Global Dry Bulk Shipping Market Size, Share, Opportunities, And Trends By Commodity Type (Iron Ore, Coal, Grain, Bauxite, Others), By Vessel Type (Capesize, Handysize, Panamax, Handymax), And By Geography - Forecasts From 2025 To 2030

The global dry bulk shipping market is projected to grow at a steady rate during the forecasted period.

The dry bulk carriers are called by many different names, including ore bulkers, iron ore ships, and bulk carriers, which could carry large quantities of unprocessed, dry solid materials at sea. Most shipments of dry bulk cargo are unpacked and don't need any special packaging, so that they can be shipped in their natural state. Dry bulk goods are typically raw materials used in global production and manufacturing. They are divided into two categories: big lumps and small stuff. A share of approximately two-thirds of the dry bulk trade consists of steam coal, iron ore, and grain.

Moreover, according to UNCTAD (United Nations Conference on Trade and Development), more than 80 percent of world trade is operated via ships, which poses a great demand for carriers that are used for the shipment of dry bulk materials. Additionally, global maritime trade increased by 2.4 percent in 2023 from the previous year.  Due to this, market players are investing in their fleets to keep their positions steady.

However, it is a volatile market as it is dependent on the trade and the demand and supply chain of the material, which has a varying effect on the freight rates. For instance, according to the 2024 Annual Report of Western Bulk, the global demand for dry bulk witnessed a growth of 5% in 2024in exports.

Global Dry Bulk Shipping Market Overview & Scope

The global dry bulk shipping market is segmented by:

• Commodity Type: By commodity type, the global dry bulk shipping market is segmented into iron ore, coal, grain, bauxite, and others. The iron ore segment is increasing with diverse utilization globally. The key factors supplementing the segment’s growth include the global economy’s industrialisation and rapid urbanisation. As the demand for electricity and coal grows, the demand for dry, bulk shipping services also increases.
• Vessel Type: By vessel type, the global dry bulk shipping market is segmented into capesize, handysize, panamax, handymax, and others. The capesize is predicted to be the fastest-growing market share.
• Capacity: By capacity, the global dry bulk shipping market is segmented into up to 40,000 Dwtm, 40,000 to 80,000 Dwt, and greater than 80,000 Dwt. The 40,000 to 80,000 Dwt segment is expected to have a significant market share in this segment.
• Region: The Asia Pacific region is poised to hold a prominent position in the global dry bulk shipping market, particularly due to its increasing urbanization and robust demand for dry materials from other countries in diverse industries is leading to growth in the regional market. Additionally, the rise in construction and infrastructure projects, along with growing energy needs, determines the growth across the region.

Top Trends Shaping the Global Dry Bulk Shipping Market

1. Growing Demand for Coal

• Coal is a major fuel source for power generation in many parts of the world, and as economies grow and urbanize, there is an increasing demand for electricity to power homes, businesses, and industry. As the demand for electricity and coal grows, the demand for dry bulk shipping services also increases. Moreover, according to the cluster collaboration report, the supply of coal has increased to 1371.8 million tons in 2024, which is a 2.4% year-on-year increase. This increase will also bring a surge in the global dry bulk shipping market as well,

Global Dry Bulk Shipping Market Growth Drivers vs. Challenges

Drivers:

• Growing Global Trade: The major demand for cargo transportation across the globe determines the development of the dry bulk shipping industry. As a result of the amplification of global trade involving so many raw materials and finished goods, mainly coming from developing countries, there is a growing necessity for well-balanced and cost-effective transport systems to be able to move these products over great distances.

Mainstream shipping has a very critical role in this endeavor. These ocean giants serve the global economy by either moving building materials like iron and steel ore or the necessary things, like coal and oil, from one end of the world to the other. This direct link also means that with the growth of international trading, the bulk shipping industry expands, and therefore, the supply of goods that guarantees an uninterrupted flow to the markets worldwide is assured.

For instance, the World Trade Organization published a report in 2023 that states global trade of goods attained a total size of US$25.3 trillion in 2022, depicting a 12% growth from 2021. This rate was boosted significantly by a commodity price surge. Furthermore, there was substantial growth in the rate of value of international trade in services, which was 15%, US$6.8 trillion. Notably, exports of digitally delivered services alone accounted for US$3.82 trillion in the same period.

• Increasing Production of Dry Bulk Materials: The production growth of dry bulk materials like iron, steel, and grains is driving the need for shipping, as the rising production is expected to propel the trade for these materials. For instance, according to the Ministry of Mines, India showed significant growth of 2.5 percent in the production of iron ore in the fiscal year (FY) of 2024-2025, April-December, as compared to FY 2024-2023 April-December. The production of iron ore was 203 MMT (million metric tonnes) in FY 2023-2024 of April-December, which increased to 208 MMT in FY 2024-2025 of April-December. Meanwhile, the total iron ore production accounted for 274 MMT in FY 2024-2025.

Additionally, this increased production of iron ores also catalyzed the production of finished steel, which was 119.89 million tonnes in FY 2022-2023, which grew to 136.29 million tonnes in 203-2024, as per the data published by the Ministry of Steel from December 2024.

Furthermore, the import of finished steel in the country, which is a minor bulk item, was 8.32 million tons in FY 2023-24, which was 6.02 million tons in FY 2022-23.  This growing trade is leading to propelled developments by various market players to align with the rising demand, which contributes to the growth of the market.

• Rising Resource exploration, and Energy Demand: The majority of the shipping industry is involved because the whole world's consumption of coal and oil requires its constant transportation from extraction sites to refineries and power stations. Bulk shipping vessels contribute greatly to the transportation of these fuels via the sea on routes that are thousands of miles long.

The significance of dry bulk shipping is not only for traditional supplies that are transported but also for the exploration of new energy reserves located in remote areas, where transport is required to be safe and reliable.

Furthermore, according to the International Energy Agency, a published article in 2023, it states that in 2023, the world coal exports are predicted to have achieved the highest level (1 466Mt) in history. Global trade has been further shifted to Asia, with about 83% of imports going to the Asia Pacific region. The prediction is that the shares of Chinese and Indian countries will reach about 47% of global imports, which, in turn, impacts the dry bulk shipping market.

Challenges:

• Variations in the Freight Prices: The cargo transportation rates, i.e., a transportation charge for the goods commodity, witness a significant variance in the dry bulk market. These ups and downs are brought about by several factors such as the availability of ships and cargo, the global economic situation, and political tensions. Such instability makes it very difficult for shipping businesses to taillight profit forecasts and the correct allocation of investments.

Global Dry Bulk Shipping Market Regional Analysis

• North America: The dry bulk shipping industry in North America is anticipated to undergo significant expansion for several reasons. For instance, the economic performance of the United States has been favorable in creating a high demand for raw materials, including iron ore and coal, which are essential to industrial activities and infrastructure development projects. To meet this increasing demand, efficient transportation solutions like dry bulk shipping have become very important. The exploration and extraction of new natural resources in North America itself require the provision of bulk shipping to move the extracted resources from mines to processing sites.

Additionally, the creation of an internal energy market, especially in the coal sector, has boosted the use of reliable bulk shipping services. The development of agricultural production and the increase in exports in North America have resulted in the need for the efficient transportation of grains and other dry bulk commodities over long distances. Owing to such multifold factors, the dry bulk shipping sector in North America is expected to hold a significant market share during the forecast period.

 

Global Dry Bulk Shipping Market Competitive Landscape

The market is fragmented, with many notable players, including Diana Shipping Inc, Star Bulk Carriers Corp., Genco Shipping & Trading Limited, GAC, NYK Group, Globus Maritime Limited, Western Bulk, Berge Bulk, Pangaea Logistics Solutions Ltd., Pacific Basin Shipping Limited, Oldendorff Carriers and Cargill, Incorporated., among others.

• Product Launch: In June 2024, JFE Steel Corporation announced the launch of the dry bulk carrier vessel, Bright Queen, which is developed by JGreeX, which is JFE Steel which and is sustainable steel. This material substantially decreases CO2 emissions in the process of steel making and is utilized in all shipping material, which is directly sold to Higako Shipbuilding Co. Ltd.

Global Dry Bulk Shipping Market Segmentation:

By Commodity Type

• Iron ore
• Coal
• Grain
• Bauxite
• Others

By Vessel Size

• Capesize
• Handysize
• Panamax
• Handymax
• Others

By Capacity

• Up to 40,000 Dwt
• 40,000 to 80,000 Dwt
• Greater than 80,000 Dwt

By Region

• North America
  • United States
  • Canada
  • Mexico
• South America
  • Brazil
  • Argentina
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Others
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Taiwan
  • Thailand
  • Indonesia
  • Others

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1. EXECUTIVE SUMMARY 

2. MARKET SNAPSHOT

2.1. Market Overview

2.2. Market Definition

2.3. Scope of the Study

2.4. Market Segmentation

3. BUSINESS LANDSCAPE 

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities 

3.4. Porter’s Five Forces Analysis

3.5. Industry Value Chain Analysis

3.6. Policies and Regulations 

3.7. Strategic Recommendations 

4. TECHNOLOGICAL OUTLOOK 

5. GLOBAL DRY BULK SHIPPING MARKET BY COMMODITY TYPE

5.1. Introduction

5.2. Iron ore

5.3. Coal

5.4. Grain

5.5. Bauxite 

5.6. Others 

6. GLOBAL DRY BULK SHIPPING MARKET BY VESSEL TYPE

6.1. Introduction

6.2. Capesize

6.3. Handysize

6.4. Panamax 

6.5. Handymax

6.6. Others 

7. GLOBAL DRY BULK SHIPPING MARKET BY CAPACITY

7.1. Introduction

7.2. Up to 40,000 Dwt

7.3. 40,000 to 80,000 Dwt

7.4. Greater than 80,000 Dwt

8. GLOBAL DRY BULK SHIPPING MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Commodity Type

8.2.2. By Vessel Type

8.2.3. By Capacity

8.2.4. By Country

8.2.4.1. United States

8.2.4.2. Canada

8.2.4.3. Mexico

8.3. South America

8.3.1. By Commodity Type

8.3.2. By Vessel Type

8.3.3. By Capacity

8.3.4. By Country

8.3.4.1. Brazil 

8.3.4.2. Argentina

8.3.4.3. Others

8.4. Europe

8.4.1. By Commodity Type

8.4.2. By Vessel Type

8.4.3. By Capacity

8.4.4. By Country

8.4.4.1. Germany

8.4.4.2. France

8.4.4.3. United Kingdom

8.4.4.4. Italy

8.4.4.5. Others

8.5. Middle East & Africa

8.5.1. By Commodity Type

8.5.2. By Vessel Type

8.5.3. By Capacity

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.2. UAE

8.5.4.3. Israel

8.5.4.4. Others

8.6. Asia Pacific

8.6.1. By Commodity Type

8.6.2. By Vessel Type

8.6.3. By Capacity

8.6.4. By Country

8.6.4.1. China

8.6.4.2. Japan

8.6.4.3. India

8.6.4.4. South Korea

8.6.4.5. Taiwan

8.6.4.6. Thailand

8.6.4.7. Indonesia

8.6.4.8. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. Diana Shipping Inc 

10.2. Star Bulk Carriers Corp. 

10.3. Genco  Shipping & Trading Limited 

10.4. GAC 

10.5. NYK  Group

10.6. Globus Maritime Limited 

10.7. Western Bul k

10.8. Berge Bulk 

10.9.  Pangaea Logistics Solutions Ltd. 

10.10. Pacific Basin Shipping Limited 

10.11. Oldendorff  Carriers

10.12. Cargill, Incorporated 

11. APPENDIX

11.1. Currency 

11.2. Assumptions

11.3. Base and Forecast Years Timeline

11.4. Key benefits for the stakeholders

11.5. Research Methodology 

11.6. Abbreviations 

Diana Shipping Inc 

Star Bulk Carriers Corp. 

Genco Shipping & Trading Limited 

GAC 

NYK Group

Globus Maritime Limited 

Western Bul k

Berge Bulk 

Pangaea Logistics Solutions Ltd. 

Pacific Basin Shipping Limited 

Oldendorff  Carriers

Cargill, Incorporated