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

Bernard Zhang

Trainee Broker

Department: Dry Cargo

Location: Hong Kong

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 11.10.24

eMissions Control

The shipping markets are no stranger to emissions control areas (ECAs), following the establishment of ECAs in the United States, Baltic and Northern Europe. From the 1st of May 2025, the entire Mediterranean Sea will become an ECA, with the maximum sulphur content of fuel burned on board falling from 0.5% to 0.1%, unless fitted with an exhaust gas cleaning system (scrubber) capable of reducing stack emissions to this level.

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Tanker Market Report 04.10.24

Chinese Stimulus

Chinese oil demand has been underwhelming this year. The IEA had to revise their full year forecast downwards, largely based on lacklustre figures coming out of China. It now sees Chinese oil demand growth at 180 kbd this year, and an additional 260 kbd in 2025 will bring the total to 17 mbd. The reasons cited were primarily the weak consumer spending on the back of ongoing housing crisis and low industrial activity, whilst the growing share of EVs in the Chinese car fleet and higher uptake of LNG trucks also played an important role. Recently crude imports into China rebounded, though according to Reuters 1.85 mbd went into stockpiles in August, indicating domestic demand and refinery throughput remained low.

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Tanker Market Report 27.09.24

Russian Effect

Monumental shifts in global tanker flows that followed the Russian invasion of Ukraine led to structural increases in crude and product tanker tonne miles back in 2022 and 2023, significantly impacting tanker rates and earnings. Whilst these changes in flows were essentially a one-off event, it appears that Russian trade can still impact the mainstream tanker market now, even if the vast majority of its flows have shifted into a grey fleet.

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Tanker Market Report 20.09.24

Losing Relevance?

The LR1/Panamax market has often been referred to as a dying sector, with investment in new tonnage close to zero for many years. Overall, just 9 vessels in the class were ordered from 2016 to 2022. Demand has also faced headwinds, with clean LR1 tonne miles down marginally and dirty Panamax trade seeing significant declines. Despite the challenging demand fundamentals, an ageing fleet has encouraged investment in the sector, with further newbuilding contracts likely. However, with threats from the Aframax, LR2 and MR sector, it is uncertain what level of investment is required to meet future demand.

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Tanker Market Report 13.09.24

Mexico’s Malaise

The Olmeca refinery in Dos Bocas, Mexico, was inaugurated in July 2022 by Mexico’s president Andres Obrador and his successor, president-elect Claudia Sheinbaum. Two years later, it still produces only a fraction of its nameplate capacity of 340 kbd, despite numerous promises of it having reached full capacity over the years.

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Tanker Market Report 06.09.24

South American Supply

South America has been a major source of oil supply for decades. Traditional producers Colombia, Venezuela and Ecuador have all faced challenges in recent years, with Brazil and now Guyana being the leading sources of growth over the past decade. Argentina is set to join the VLCC exporters club, whilst Suriname aspires to replicate Guyana’s success story.

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Tanker Market Report 30.08.24

What’s Next for Clean?

August has seen the weakest clean tanker earnings for the year to date globally across all categories but as we noted in our recent report, the current weakness in the market is in many ways driven by seasonality. The LRs have been negatively impacted by Suezmax/VLCC clean-ups this summer, with Q3 traditionally being the slowest period for crude tankers. In Europe, Handy and MR tonne miles have been pressured by a seasonal decline in regional exports. Similarly, there has been a strong seasonal drop in Russian CPP exports amid peak summer demand, magnified by continued drone attacks on Russian refineries.

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Tanker Market Report 23.08.24

Supply Swell

News around the crude market has recently been dominated by headlines about weak Chinese oil demand on one side and conflict in the Middle East threatening supply on the other. For now, the influence of slower demand appears to outweigh geopolitical tensions; however, oil markets could face further pressure into 2025 as a wave of new oil supply hits the market.

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Tanker Market Report 16.08.24

The Cool Choice

LNG as a marine fuel appears to be coming back in vogue. Having lost ground to methanol, ammonia and conventional fuels in recent years, several Owners have placed or announced plans to place large orders of LNG dual fuel ships, most notably Maersk Line who have previously been advocating for methanol as their primary decarbonization pathway.

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Tanker Market Report 09.08.24

Seasonal Slowdown

With most tanker markets currently seeing earnings at their lowest levels this year, the recent stock market chaos, ongoing energy transition and geopolitical risk, many are asking whether this simply represents a seasonal slowdown, or something more systemic.

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Tanker Market Report 02.08.24

VLCCs Say Yes to Scrubbers

It has been over four years since the IMO’s global sulphur rules were introduced. Prior to implementation, there had been much speculation about potential lack of compliant 0.5% sulphur bunker fuel, the economics of installing exhaust gas cleaning technology and the future direction of Hi5 spread – the difference between high sulphur bunker fuel (HSFO) and compliant very low sulphur fuel oil (VLSFO).

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Tanker Market Report 26.07.24

Is China’s crude craze over?

China saw an impressive rebound in crude imports last year, driven by the country’s post-Covid economic recovery. However, the picture is different this year, with average crude shipments into the country somewhat slipping, down by 50 kbd during the 1st half of the year, compared to the same period in 2023.

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Tanker Market Report 19.07.24

Humbled by Hurricanes

With Hurricane Beryl recently striking the Caribbean and United States, making headlines worldwide for being the earliest category 5 Hurricane in history, many clients have been asking us what impact Hurricanes have on the tanker markets. An active season points to broader risk for both the crude and clean markets, however, it is difficult to predict the overall impact.

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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 01.10.24

Dry Cargo

Dry Cargo in numbers

1590+

1b

Dry Cargo Team

Adelene Low

Bernard Zhang

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

eMissions Control

Chinese Stimulus

Russian Effect

Losing Relevance?

Mexico’s Malaise

South American Supply

What’s Next for Clean?

Supply Swell

The Cool Choice

Seasonal Slowdown

VLCCs Say Yes to Scrubbers

Is China’s crude craze over?

Humbled by Hurricanes

Find a Broker

Discover relevant industry news, insights & events

Wrapping Up Gibson’s 2024 Impact Challenge

Establishing Hope: Gibson’s New Initiative in Kawangware, Nairobi

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