2020 looks set to become a toxic cocktail for dry bulk shipping

2020 could end up as a highly toxic combination of what the dry bulk sector experienced in 2009, with an all-time low demand, and a 2016 in which there were far too many ships, according to ominous report.

Photo: Scorpio Bulkers

The tale of the dry bulk sector's woes could be about to repeat itself this year – merely with the added fact that it could be worse than it has been in the past, projects a new report from Bimco.

Here the association's Chief Shipping Analyst Peter Sand outlines a very bleak scenario of the market of the this year in light of the coronavirus pandemic, the lockdown in countries across the globe and the severe slowdown in the economy.

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