Dry bulk market expected to drop 2.4 percent this year

For the first time since 2009, the global dry bulk market is on track for a drop in 2020 due to the downturn created by the coronavirus pandemic, projects analysts at Arrow Shipbroking. But 2021 could develop in a completely different direction.

Photo: PR / Golden Ocean

The coronavirus could hurt the global dry bulk market in 2020, and several major shipping companies are also prepared for a setback.

In a new report, Arrow Shipbroking Group projects that the market will drop by 2.4 percent this year, which would mark the first such setback since 2009.

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