The volume of cargo to be transported by dry bulk carriers this year and next will show strong growth, increasing by 7.9% and 7.3% respectively, largely on the back of growing Chinese hunger for all types of bulk goods, according to DVB Bank's research and strategic planning department's latest report on the dry bulk sector.
The report makes the optimistic assumption that developed economies will continue to grow "even if at anaemic levels", even though fears of a second recession continue to abound, with the European sovereign debt crises in particular posing a serious threat to western hemisphere economies.
DVB's prediction would imply a strong increase in demand growth compared to the past year. In 2011, dry bulk trades, which DVB estimates totaled 3.4bn tonnes, are estimated to have grown only 5%.