China's shift from importer to exporter in dry bulk trade is transforming global shipping dynamics, according to Belships CEO Ivar Hansson Myklebust.
Ivar Hansson Myklebust, Chairman of the Board and CEO of the Norwegian shipping company Belships, stated that China's transformation from being solely an importer to a significant exporter in dry bulk trade has created new balances in global maritime transportation. Myklebust noted that the growth potential of developing countries in maritime trade has not been sufficiently recognized by the industry.
Global dry bulk shipping is entering a new era due to China's changing trade policies and the increasing cargo volumes from developing economies. In statements made to Splash247 ahead of the Geneva Dry conference scheduled for 2027, Belships CEO Ivar Hansson Myklebust evaluated the changes in the sector.
Myklebust emphasized that China's role in dry bulk trade has significantly changed in recent years.
He pointed out that China, which was predominantly an importer of dry bulk in the past, has now become a major exporter, and this transformation has particularly affected maritime shipping routes in the Pacific region.
The increase in China's export activities is also altering the demand for dry bulk carriers equipped with their own loading and unloading cranes.
This development is creating new opportunities, especially for the commercial activities of Handysize and Supramax type vessels.
According to the Belships CEO, the maritime sector undervalues the contribution that developing economies will make to global trade.
Myklebust highlighted that the economic growth of these countries and the physical trade volumes they achieve often exceed predictions.
He noted that the growth in small-volume bulk cargo trade, particularly involving steel products, fertilizers, agricultural products, and various industrial raw materials, could continue in the coming years.
This trend is expected to support demand for medium and small-sized dry bulk carriers.
Myklebust stated that the next three to four years in the dry bulk market are largely predictable in terms of ship supply.
The current fleet structure and the delivery schedules of new orders facilitate the forecasting of the capacity that will enter the market.
In contrast, there are significant uncertainties regarding how cargo demand will shape up due to global economic developments, geopolitical tensions, and changes in commodity trade.
Therefore, the balance between ship supply and the amount of cargo to be transported is considered one of the key factors determining the future of the freight market.
Myklebust also emphasized that attacks on commercial vessels pose a serious security issue for the maritime sector.
Expressing his concern over the attacks that have resulted in the loss of sailors' lives in the Black Sea and the Gulf, the Belships CEO expressed hope for the cessation of conflicts in the region or at least a significant reduction.
The Belships CEO also addressed the significance of technological advancements in maritime transportation.
According to Myklebust, companies need to focus not only on major technological transformations but also on applications that will enhance efficiency in daily operations such as maintenance planning, operational processes, and freight collection.
Such improvements are said to reduce the costs for ship operators and increase their competitiveness.
Developments in global dry bulk shipping will be discussed at the Geneva Dry conference to be held in Geneva, Switzerland, on April 27-28, 2027.
Belships CEO Ivar Hansson Myklebust will meet with industry representatives at the small-volume bulk cargo panel on April 28.
The panel will evaluate changes in global commodity trade, new ship investments, fleet supply, and the future of dry bulk shipping.
Source: SeaNews Türkiye
