Top 25 Companies in Global Dry Bulk Shipping Market (2024–2035): Expert View by Spherical Insights
RELEASE DATE: Mar 2026 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Dry Bulk Shipping Market Size is projected to Grow from USD 151.83 Billion in 2024 to USD 325.90 Billion by 2035, at a CAGR of 7.19% during the forecast period 2024–2035. Rising global trade volumes, increasing demand for commodities such as coal, iron ore, and grains, expanding industrialization in emerging economies, fleet modernization, and improved port infrastructure are driving growth in the dry bulk shipping market.
Introduction
The dry bulk shipping market refers to the transportation of unpackaged bulk commodities such as coal, iron ore, grains, bauxite, and fertilizers through large bulk carrier vessels across global sea routes, playing a vital role in international trade and supply chains. It is widely applied in industries including energy generation, steel production, agriculture, construction, and manufacturing, where large volumes of raw materials are required. Governments worldwide are supporting the market through port modernization, maritime infrastructure investments, and policies promoting efficient logistics and trade expansion, particularly in emerging economies like India and China. Recent developments include digital freight indexing systems such as the Platts Dry Index and strategic mergers like Star Bulk’s acquisition of Eagle Bulk to enhance fleet capacity and operational efficiency. Additionally, evolving geopolitical factors and port regulations are influencing shipping routes and costs. The market is primarily driven by rising global demand for raw materials, expanding industrialization, and increasing energy consumption across developing regions.
In December 2025, Pacific Basin Shipping ordered its first Handysize bulk carriers in China in over a decade, acquiring four 40,000 dwt newbuilds. These vessels are designed with improved fuel efficiency, reduced emissions, and advanced onboard technologies to enhance operational performance on regional trade routes.
In November 2025, COSCO Shipping announced a USD 1.75 billion newbuilding program comprising 29 vessels, including 23 kamsarmax bulk carriers. The initiative aims to modernize the fleet, improve energy efficiency, and strengthen the company’s competitive position in dry bulk shipping markets through 2028.
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Market Segmentation
Global Dry Bulk Shipping Market Size, Share, and COVID-19 Impact Analysis, By Vessel Type (Capesize, Panamax, Supramax, Handysize), By Cargo Type (Iron Ore, Coal, Grain, Bauxite & Alumina, Phosphate Rock, Others), By Application (Energy & Power Generation, Steel Production, Agriculture, Construction, Manufacturing), By End-User (Mining Companies, Agricultural Producers, Energy Companies, Industrial Manufacturers, Traders), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), Analysis and Forecast, 2024–2035.
Dry Bulk Shipping Market Size & Statistics
- The Market Size for Dry Bulk Shipping Was Estimated to be worth USD 151.83 Billion in 2024.
- The Market is Going to Expand at a CAGR of 7.19% between 2024 and 2035.
- The Global Dry Bulk Shipping Market Size is anticipated to reach USD 325.90 Billion by 2035.
- North America is expected to generate the highest demand during the forecast period in the Dry Bulk Shipping Market
- Asia Pacific is expected to grow the fastest during the forecast period in the Dry Bulk Shipping Market.
Regional growth and demand
Asia Pacific is expected to grow the fastest during the forecast period in the Dry Bulk Shipping market. The region’s rapid growth is driven by strong import demand for key commodities such as iron ore, coal, and grains, supported by rapid industrialization and urbanization. Countries such as China, India, and Southeast Asian nations are major consumers of bulk raw materials for steel production, power generation, and infrastructure development. Expanding port infrastructure, rising seaborne trade volumes, and government investments in maritime logistics and trade corridors are further accelerating market growth. Additionally, increasing participation in global trade and long-term commodity supply agreements are strengthening regional shipping demand.
North America is expected to generate the highest demand during the forecast period in the Dry Bulk Shipping market. Demand is driven by rising exports of agricultural commodities, including grains and soybeans, along with stable coal and mineral shipments. The United States and Canada benefit from well-established port infrastructure and efficient inland transportation networks, enabling large-scale bulk trade. Increasing investments in port modernization, bulk cargo handling facilities, and supply chain optimization are further enhancing operational efficiency. Strong trade agreements, technological advancements in fleet management, and consistent global demand for commodities contribute to sustained market demand in the region.
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Top 10 Trends in the Dry Bulk Shipping Market
• Increasing global seaborne trade of bulk commodities
• Rising demand for iron ore, coal, and grain transportation
• Expansion of port infrastructure and bulk handling capacity
• Growing adoption of digital freight platforms and analytics
• Fleet modernization and fuel-efficient vessel adoption
• Shift toward eco-friendly and low-emission shipping practices
• Volatility in freight rates and charter markets
• Strategic mergers and acquisitions among shipping companies
• Increasing focus on supply chain optimization and visibility
• Growth in long-term commodity transportation contracts
Top 5 Trends
1. Increasing Global Seaborne Trade of Bulk Commodities
Global demand for raw materials such as iron ore, coal, and grains continue to rise, driven by industrialization and urbanization. This is significantly increasing seaborne dry bulk trade volumes and strengthening market growth.
2. Fleet Modernization and Fuel-Efficient Vessel Adoption
Shipping companies are investing in modern bulk carriers with improved fuel efficiency and lower emissions. Advanced vessel designs and compliance with environmental regulations are enhancing operational performance and reducing costs.
3. Expansion of Port Infrastructure and Bulk Handling Capacity
Governments and private players are investing in port expansion, automation, and bulk cargo handling facilities. These developments improve turnaround time, reduce congestion, and support higher cargo volumes.
4. Growing Adoption of Digital Freight Platforms and Analytics
Digitalization is transforming the dry bulk shipping industry through real-time tracking, freight rate optimization, and predictive analytics. These technologies enhance transparency, efficiency, and decision-making across supply chains.
5. Shift Toward Eco-Friendly and Low-Emission Shipping Practices
Stricter environmental regulations are driving the adoption of cleaner fuels, emission control technologies, and energy-efficient operations. The industry is increasingly focusing on sustainability to reduce its environmental footprint and comply with global standards.
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Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the dry bulk shipping market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
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Top 25 Companies Leading the Dry Bulk Shipping Market
- A.P. Moller - Maersk Group
- Mediterranean Shipping Company (MSC)
- COSCO Shipping Bulk Co., Ltd.
- China Merchants Energy Shipping Co., Ltd.
- Star Bulk Carriers Corp.
- Golden Ocean Group Limited
- Diana Shipping Inc.
- Pacific Basin Shipping Limited
- Oldendorff Carriers GmbH & Co. KG
- Berge Bulk Pte. Ltd.
- Navios Maritime Partners L.P.
- Eagle Bulk Shipping Inc.
- Scorpio Bulkers Inc.
- Safe Bulkers, Inc.
- Genco Shipping & Trading Limited
- Ultrabulk A/S
- Fednav Limited
- Anglo American plc (Shipping Division)
- Cargill Ocean Transportation
- Louis Dreyfus Armateurs Group
- Vale S.A. (Shipping Division)
- Mitsui O.S.K. Lines, Ltd.
- Kawasaki Kisen Kaisha, Ltd. (K Line)
- NYK Line (Nippon Yusen Kabushiki Kaisha)
- Essar Shipping Limited
1. A.P. Moller - Maersk Group
Headquarters: Copenhagen, Denmark
A.P. Moller - Maersk Group is a global leader in shipping and logistics with a diversified portfolio that includes dry bulk operations alongside its dominant container shipping business. The company focuses on integrated supply chain solutions, digital logistics platforms, and efficient cargo movement across global trade routes. Maersk leverages advanced fleet management systems and sustainability initiatives, including low-emission fuels and carbon reduction strategies, to enhance operational efficiency. Its strong global presence, extensive maritime network, and continuous investments in digitalization position it as a key player influencing global dry bulk trade logistics and shipping efficiency.
2. Mediterranean Shipping Company (MSC)
Headquarters: Geneva, Switzerland
Mediterranean Shipping Company is one of the world’s largest shipping companies, with operations spanning container and bulk cargo transportation. The company plays a significant role in global dry bulk trade through its extensive maritime network and logistics capabilities. MSC focuses on operational efficiency, fleet expansion, and sustainable shipping practices, including energy-efficient vessels and emission reduction technologies. Its strong global footprint, strategic partnerships, and integrated logistics services enable efficient transportation of bulk commodities across major international trade routes.
3. COSCO Shipping Bulk Co., Ltd.
Headquarters: Guangzhou, China
COSCO Shipping Bulk Co., Ltd. is one of the largest dry bulk shipping operators globally, specializing in the transportation of commodities such as iron ore, coal, and grains. The company operates a large fleet of bulk carriers, including Capesize, Panamax, and Handysize vessels, serving major global trade routes. COSCO focuses on fleet expansion, digital shipping technologies, and operational optimization to enhance efficiency and reduce costs. Backed by strong government support and extensive port infrastructure, the company plays a crucial role in supporting China’s import and export of bulk commodities.
4. Star Bulk Carriers Corp.
Headquarters: Athens, Greece
Star Bulk Carriers Corp. is a leading global dry bulk shipping company with a large and modern fleet of bulk carriers. The company transports major and minor bulk commodities, including iron ore, coal, and agricultural products, across international markets. Star Bulk emphasizes fleet modernization, fuel efficiency, and environmental compliance to meet evolving regulatory standards. Through strategic acquisitions and operational optimization, the company continues to expand its market presence and improve profitability in the highly competitive dry bulk shipping industry.
5. Oldendorff Carriers GmbH & Co. KG
Headquarters: Lübeck, Germany
Oldendorff Carriers is one of the largest dry bulk shipping companies, specializing in the transportation of a wide range of bulk commodities such as coal, iron ore, bauxite, and agricultural products. The company operates a vast fleet through owned and chartered vessels, enabling flexible and efficient global operations. Oldendorff focuses on long-term contracts, strong customer relationships, and advanced logistics solutions to ensure reliable cargo transportation. Its emphasis on operational efficiency, digitalization, and sustainable shipping practices strengthens its position in the global dry bulk shipping market.
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The report provides an in-depth analysis of the leading companies operating in the global Dry Bulk Shipping market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
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Company Profiles
- A.P. Moller - Maersk Group
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- Mediterranean Shipping Company (MSC)
- COSCO Shipping Bulk Co., Ltd.
- China Merchants Energy Shipping Co., Ltd.
- Star Bulk Carriers Corp.
- Golden Ocean Group Limited
- Diana Shipping Inc.
- Pacific Basin Shipping Limited
- Oldendorff Carriers GmbH & Co. KG
- Others.
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Conclusion
The dry bulk shipping market is experiencing steady growth, supported by rising global trade of essential commodities such as iron ore, coal, and agricultural products. Increasing industrialization, urbanization, and infrastructure development across emerging economies are significantly driving demand for bulk transportation. The market plays a critical role in supporting key industries including energy, steel, and agriculture by ensuring efficient movement of raw materials across international trade routes. Investments in port infrastructure, fleet modernization, and digital shipping technologies are enhancing operational efficiency and reducing transit times. Additionally, the growing focus on sustainable shipping practices, including fuel-efficient vessels and emission reduction initiatives, is shaping the future of the industry. Despite challenges such as freight rate volatility and geopolitical uncertainties, strong demand fundamentals and continuous advancements in maritime logistics are expected to support long-term market growth during the forecast period.
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