Dry Cargo Outlook Q2 2026

The dry bulk sector anticipates the delivery of approximately 44.7 Mn DWT and 571–612 vessels in 2026, marking the highest tonnage and number of vessel deliveries since 2020 and 2013, respectively. The orderbook's rise to 12–13 per cent of the active fleet reflects increased ordering in prior years, despite a notable decline in newbuilding orders of 41 per cent year-on-year in 2025. While demand remains mixed due to geopolitical tensions impacting trade, the ongoing conflict in the Middle East poses risks to freight rates and could exacerbate supply chain pressures, particularly with an ageing fleet and reduced demolition activity ahead.