BOAT - Shipping Market Outlook - Container Vs. Dry Bulk: Q2 2022 Update

• IHS Markit forecasts dry bulk rates to remain stable in the coming years with limited supply and stable growth in trade—more bullish in the near term and bearish for medium term.
• Dry bulk demand growth is expected to decrease to 0.2% in 2022 and settle at 1.7% in 2023, compared with 2.2% in 2021, while dry bulk fleet growth will slow to 2.8% in 2022, 2.2% in 2023, and 2.4% in 2024, compared with 3.4% in 2021.
• The backhaul remains one of the strongest routes and we expect it to continue with strength in container market and replacement demand for Ukrainian and Russian cargo.

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