Company: CMDB
Filing Date: 2025-04-23
Form Type: 20FR12B/A
Source: 0001140361-25-015197
Chunk: 155

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-23
Form: 20FR12B/A
Chunk 155
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, coke/petcoke and many more account for the remaining approximately 1 billion tonnes. Selected key trade flows within the minor bulk sector include Guinean bauxite exports, nickel ore exports from the Philippines, Chinese steel products exports, forest products exports from the U.S., Canada and Russia, and Argentinian/Brazilian exports of agribulks. Historical Dry Bulk Shipping Demand Growth Trends Seaborne dry bulk trade grew from 2.3 billion tonnes in 2000 to over 3.8 billion tonnes in 2010 and over 5.7 billion tonnes in 2024, a CAGR of 3.9%. Notably, this rate accelerated to an average of 5.9% between 2003-13, driven in particular by the accelerated development of the Chinese economy and steel industry over this period. Iron ore trade has been the largest driver of expansion over the last two decades, growing from 447 megatonnes in 2000 to almost 1.6 billion tonnes in 2024 (CAGR: 5.4%), accounting for nearly 35% of total dry bulk trade growth over the period, the vast majority of which can be attributed to growth in Chinese imports. Seaborne coal trade grew from 509 megatonnes in 2000 to 1.36 billion tonnes in 2024 (CAGR: 4.2%), while grain trade grew from 230 megatonnes to 532 megatonnes (CAGR: 3.6%). Seaborne trade in minor bulk commodities has grown from 1.12 billion tonnes in 2000 to 2.25 billion tonnes in 2024 (CAGR: 3.0%).

| Figure 3. Dry Bulk Trade Development |     | Figure 4. Monthly Global Seaborne Dry Bulk Trade |

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Recent Dry Bulk Shipping Demand Trends

Dry bulk trade volumes have seen firm growth recently, after previously experiencing a “volatile” period across 2020-22 impacted by the COVID-19 pandemic (2020: -1.3%, 2021: +3.5%) and the Russia-Ukraine conflict and associated geopolitical and economic impacts (2022: -2.6%). Seaborne dry bulk trade grew by a robust 3.3% to a record 5.7 billion tonnes in 2024, as Chinese demand for a range of bulk commodities in particular was exceptionally strong, on the back of