“Global grain shipments have increased 13% y/y so far this year, supported by strong wheat, maize and soya bean exports from the Americas and Europe. Improved harvests across most major exporters have
“Global grain shipments have increased 13% y/y so far this year, supported by strong wheat, maize and soya bean exports from the Americas and Europe. Improved harvests across most major exporters have boosted their export surpluses, driving higher shipments to Asia, the Middle East and North Africa,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.
Grain shipments to China have jumped 15% y/y, supported by stronger soya bean, sorghum and barley imports. An improvement in trade relations between the US and China has led to a 137% increase in US grain shipments to the country, reversing last year's weakness. Import demand for wheat, maize and soya beans has also firmed across Southeast Asia, particularly in Vietnam, Thailand and the Philippines.
Despite disruptions caused by the closure of the Strait of Hormuz, grain trade to the wider Middle East and North Africa regions has risen 18% y/y. While imports into the Persian Gulf have fallen 49% y/y, this has been partly offset by stronger shipments to Saudi ports in the Red Sea and to Fujairah.
“Higher grain volumes have primarily benefited the supramax segment, where shipments have surged 27% y/y so far this year. This has led to a 4% y/y
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