Undergraduate Studies in Maritime and Logistics Management

Semester Questions: Four questions Environment-related shipping policies

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Abstract

Dry bulk commodities are those which are shipped in huge amounts in an unpackaged state.

These commodities can be divided into two main groups; major dry bulk and minor dry bulk.

Iron ore, coal and grain are some of the most important and dominant dry bulk goods and

minor dry bulk goods include cement, sugar and steel (Investopedia, 2015).

Developing and developed economies from all over the world has been growing throughout

the last few decades, and a very important feature owing to this growth is the dry shipping

market. International trade is globalization wouldn’t be possible without the support of dry

bulk shipping. Iron ore is the largest constituent of the dry bulk trade, which is followed by

coal and grain. The demand for iron ore has seen a constant growth due to the increased

demand for steel manufacturing in China and Japan. Coal (both thermal and cooking) is also

in high demand for being a chief energy source and an input in the production of steel. While

Asian countries are large consumers of iron ore, Japan is a large consumer of coal. Major

countries that export dry bulk commodities include Australia, Brazil, South Africa, North

America and Indonesia (RESEARCH AND MARKETS, 2014). The rising world population

is a major reason for the increased demand of grains. Thus, taking together the rising

urbanization, improving steel industry, industrialization in numerous economies and

economic development has facilitated the rising demand for iron, coal and grain and hence

the global dry bulk market.