Dry Cargo

An experienced team specialising in the Capesize market, our dry cargo brokers operate from key hubs in London, Dubai, Singapore, and Hong Kong. We extend our services to smaller deadweight markets based on our clients’ needs. Backed by robust research capabilities, our goal is to offer informed advice and assistance, guiding clients through the intricacies of the challenging and highly volatile freight markets.

Our goal is to offer more than just brokerage services; we aim to provide informed advice and assistance that guides clients through the intricacies of today’s challenging and highly volatile freight markets.

Dry Cargo in numbers

1590+

Capesize and Newcastlemax bulk carriers in operation

1b

Tonnes Chinese Iron Ore imports in 2022

Dry Cargo Team

Adelene Low

Dry Cargo Operator

Department: Dry Cargo Capesize Dry Ops

Location: Singapore

Carl Palmer

Broker

Department: Dry Cargo Capesize

Location: Singapore

Edward Calbom

Broker

Department: Dry Cargo Capesize

Location: Dubai

James Stewart

Sectional Director

Department: Dry Cargo Capesize

Location: Singapore

Jercynda Neo

Dry Cargo Operator

Department: Dry Cargo Capesize Dry Ops

Location: Singapore

Jeremy Abbott

Broker

Department: Dry Cargo Capesize

Location: London

Nicholas Ward

Managing Director

Department: Dry Cargo Capesize

Location: Singapore

Samuel Tay

Broker

Department: Dry Cargo Capesize

Location: Singapore

Shengming Zhang

Broker

Department: Dry Cargo Capesize

Location: Hong Kong

Stuart Mitchley

Broker

Department: Dry Cargo Capesize

Location: London

Propelling maritime trade through excellence in shipping services.

With over 130 years of experience and a global network of industry connections, we are your trusted partner in shipbroking and advisory services.

Tankers

From crude oil to refined products we facilitate the chartering and brokerage of tankers.

LPG, Ammonia & Petrochemical Gases

Leveraging expertise, we ensure seamless transportation of liquefied gases.

Sale & Purchase

Facilitating the acquisition, divestiture and value optimisation of shipping vessels.

Specialised & Chemical Tankers

Offering specialised solutions, we manage the chartering and brokerage of chemical tankers.

Projects & Time Charter

Catering for the specific needs of clients in project and time charter requirements.

Consultancy & Research

Providing valuable insights and strategic advice to empower our clients with market intelligence and analysis.

LNG

Facilitating chartering solutions to ensure the efficient and secure transportation of LNG.

Dry Cargo

Managing and actioning the chartering and brokerage of dry bulk commodities.

Discover more weekly reports

Tanker Market Report 28.06.24

Mired in MRs

MR tankers, the workhorses of both the clean and occasionally dirty product markets form the largest segment of the tanker industry. They are essential for the overall functioning of the market, making a detailed analysis of MR supply crucial for understanding tanker market dynamics.

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Tanker Market Report 21.06.24

Cleaning Up

LRs have seen extreme volatility this year, with spot earnings looking very much like a roller coaster ride. TCE returns on benchmark LR2 and LR1 trades have climbed several times this year above $100,000/day and $60,000/day respectively. Attacks on commercial shipping in the Red Sea are a key factor behind it, with 80% of all international owners switching to Cape of Good Hope routing for delivering clean petroleum products (CPP) into the European market. Total volumes shipped from the Middle East (excl. West Coast Saudi Arabia) have also steadily increased by around 400kbd between January and May, driven by rising refining runs on the back of substantial new capacity.

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Tanker Market Report 14.06.24

The Long View

Oil demand will peak this decade, that is the call by the International Energy Agency (IEA) who released their Oil 2024 report this week. The agency is now forecasting global oil demand growth to slow for the remainder of this decade, peaking in 2029 at 105.6 mbd from 103.2 mbd in 2024 and slip marginally to 105.4 mbd in 2030. The bulk of this demand growth, as expected will come from India and China, and other emerging Asian nations, primarily the petrochemical sector and aviation demand.

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Tanker Market Report 07.06.24

A Lot of Moving Parts

The long-awaited change in the product tanker market due to the 650kbd Dangote refinery start-up appears to be approaching. The refinery imported its first crude cargo in December last year and over the past three months imports averaged between 230kbd and 310kbd, mainly consisting of Nigerian grades, supplemented by US barrels.

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Tanker Market Report 31.05.24

Still Handy?

Despite being the oldest deep sea tanker fleet, the Handy sector (32,000 – 42,000 dwt) has been the least invested tanker sector of the past decade. Whilst the Handy market has also been most impacted by the War in Ukraine, both from a sale and purchase and trading perspective, there is still a clear need for modern well approved tonnage, with the sector facing a major supply crunch in the years ahead.

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Tanker Market Report 24.05.24

OPEC’s Dilemma

Oil markets once again are carefully watching for any comments from OPEC+ officials, with speculation building what the group will decide during their upcoming meeting on June 2nd. Will OPEC+ continue with their current production cuts or will they cut further, allowing non-OPEC members to grab an even larger market share?

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Tanker Market Report 17.05.24

Dark Flows

Despite operating under long running sanctions, Iranian crude exports continue to flow. The large shadow tanker fleet as well as the network of traders and financial intermediaries that make this trade possible have occasionally faced sanctions enforcement. US Treasury officials have recently been in Malaysia and Singapore to have discussions with local players about the ongoing presence of large-scale Ship-to-Ship (STS) operations of sanctioned Iranian, Venezuelan crudes off the Malaysian coast.

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Tanker Market Report 10.05.24

Asset Price Ambiguity

VLCC asset prices appear to be caught in a paradoxical market scenario. While conventional market sentiment and pricing models would suggest that prices are reaching overheated levels, mirroring the peaks seen in 2008, the underlying supply dynamics seem to justify these increases for now.

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Tanker Market Report 03.05.24

Is EV Uptake Slowing?

In recent months we have seen some gloomy developments in the electric vehicles (EV) market. Rental company Hertz has already announced its plans to sell 20,000 EVs and now plans to offload another 10,000 due to waning demand. Tesla has abruptly dismissed the team running its electric vehicle charging business, raising doubts about the future of one of the largest US charging networks, especially considering that a lack of charging infrastructure is one of the main barriers to widespread EV adoption. Elsewhere, Mercedes-Benz has announced in recent investor conference a delay to its EV sales target, now aiming for EVs and hybrids to account for up to 50% of its sales by 2030, instead of initial target of 50% by 2025.

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Tanker Market Report 26.04.24

Shifting Supply Chains

With the one third of the year already over and the Red Sea still off limits to the majority of the tanker market, we examine how crude and product trade flows have changed to account for the necessary rerouting. Evidently different subsectors have been impacted differently. Volatility in clean product freight rates has been far higher than in the crude market. However, both sectors have had to adjust supply chains in response to changes in freight and commodity prices.

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Tanker Market Report 19.04.24

Looking into 2025

Earlier this month the IEA released its monthly oil report, offering for the first time their analysis of how oil markets could shape up in 2025. The agency expects global oil demand to grow by 1.1 mbd next year, just marginally below 1.2 mbd expected in 2024.

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Tanker Market Report 12.04.24

Turkish Delight?

After just over a year of being offline, discussions about restarting the 450 kbd KRG pipeline remains at an impasse. Despite months of negotiations since March 2023, insufficient progress has been made to restart flows from Northern Iraq to the Turkish port of Ceyhan. Political tension between the Federal Iraqi Government, the autonomous Kurdistan Regional Government (KRG) and Turkey have blocked previous attempts at finding a resolution. For the tanker market, particularly the Aframax sector, this resulted in the loss of approximately 400 kbd of exports out of Ceyhan, reducing the supply of crude cargoes in the Mediterranean, forcing owners to look for other opportunities.

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Tanker Market Report 05.04.24

New Frontier

Much of the focus over the past few years has been on the impressive ramp up of oil production in Guyana where production is on track to rise to 800kbd next year from zero in 2019. Yet in the years ahead, new frontiers in the oil market could emerge and one such region with potential is Namibia.

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Find a Broker

Whether it’s tankers, clean products or specialised cargo, find a trusted broker in navigating the seas of global trade, and get access to a connected team of seasoned shipping professionals, operational excellence and unmatched strategic guidance.

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Discover relevant industry news, insights & events

News 10.06.24

Dry Cargo

Dry Cargo in numbers

1590+

1b

Dry Cargo Team

Adelene Low

Carl Palmer

Edward Calbom

James Stewart

Jercynda Neo

Jeremy Abbott

Nicholas Ward

Samuel Tay

Shengming Zhang

Stuart Mitchley

Propelling maritime trade through excellence in shipping services.

Discover more weekly reports

Mired in MRs

Cleaning Up

The Long View

A Lot of Moving Parts

Still Handy?

OPEC’s Dilemma

Dark Flows

Asset Price Ambiguity

Is EV Uptake Slowing?

Shifting Supply Chains

Looking into 2025

Turkish Delight?

New Frontier

Find a Broker

Discover relevant industry news, insights & events

Gibson appoints Thomas Woidemann as Head of Gas, Asia

Gibson appoints Gerrit Stricker as Head of LNG, hires Romain Grandbesancon

Team Gibson comes 3rd in the Baltic Exchange Sailing Event

A Successful Opening

Nigel Richardson retires as Managing Director

New member profile: Paratus Group

Gibson opens India office

Gibson appoints Roger Harrison as new Deputy Managing Director

Gibson Shipbrokers shows off Movember whiskers for men’s health

Gibson chief Richardson reflects on ‘first 125 years’ of shipbroker

Gibson MD Nigel Richardson joins AOG for its 30th Year Celebrations

Far East offices come together to enjoy festive breakfast