Bulk Transport

Bulk Carrier Fleet Ranking

Increase in Seaborne Trade and Fleet Tonnage

(As of January 1, 2013)

Ranking

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Dry bulk seaborne trade

Company

Kt (dwt)

Vessels

COSCO Group

24,001
21,756
17,980
15,313
10,718
8,747
7,708
7,472
6,539
6,456
6,345
6,338
6,113
5,321
5,208

317
232
159
156
164
31
68
43
25
42
64
45
69
51
46

NYK Line
K Line
Mitsui O.S.K. Lines
China Shipping Group
Vale
STX Pan Ocean
Angelicoussis Group
BW Group
Zodiac Maritime Agy.
Shoei Kisen
Hanjin Shpg Co.
Enterprises Shpg.
Navios Group
CMB N.V.

Capesize
Kt (dwt)

%
18.0

Capesize
Vessels

9,388
11,387
11,243
9,656
3,764
8,747
5,325
7,399
6,539
6,010
3,973
5,772
3,556
3,203
4,329

47
60
58
51
15
31
24
42
25
32
21
34
21
18
24

Bulk carrier fleet tonnage

17.2
14.5
12.6

12.0

9.8

9.3

7.4

6.4

5.7

6.5

6.0
2.9

4.9

0
-3.0
-6.0

2008

2009

2010

2011

2012

(Forecast)

2013

(Forecast)

Compiled by NYK Line referring Clarksons Dry Bulk Trade Outlook (March 2013)

Compiled by NYK Line based on Clarkson database

Chinas Crude Steel Production, Iron Ore Imports, and

Volume and Forecast of Dry Bulk Seaborne Trade

Global Market Share

(Millions
of tons)

Crude steel production

Market share of crude steel production

Iron ore imports

Market share of iron ore imports

700

Global
market
share

709 723

64

70

600

5,000

47

50

400

40

300

30

200

20

100

10

2003

2004

2005

2006

2007

2008

Crude steel production: Compiled by NYK Research Group referring

data from World Steel Association
Iron ore imports: C
 ompiled by NYK Research Group referring data
from Global Trade Atlas

2009

2010

2011

2012

Iron ore

Coking coal

Steam coal

Grain

3,726
3,546 3,638

4,000

60

500

(Millions of tons)
Minorbulk

3,886

2,898

3,000
2,188

2,000

1,000
300
0 2001

2006

2011 2012 2013 2014 2015 2016 2017

(Forecast) (Forecast) (Forecast) (Forecast) (Forecast) (Forecast)

Source: 2001, 2006: Clarkson Shipping Review & Outlook (Spring 2012)

N Y K

a c t

o o k

4,676

4,277
4,036 4,174

2013

After 2011 :NYK Research Group

16

2021
(Forecast)

 Dry Bulk Cargo Export and Import

Export
Iron Ore

Coking Coal

Steaming Coal

Australia

Brazil

India

Australia

South Africa

Canada

Other

Other

USA

Canada

Grain

Australia

Indonesia

Columbia/Venezuela

South Africa

Other
(Millions of tons)

(Millions of tons)

(Millions of tons)

400

1,250

350

1,200

320

1,000

280

900

240

750

210

600

160

500

140

300

80

250

70

2001

2006

2011

2012

2016

2021

2001

2006

2011

(Forecast) (Forecast) (Forecast)

2012

2016

2021

2001

2006

Argentina

Australia

EU

Russia

Other

Canada

(Millions of tons)

1,500

USA

2011

(Forecast) (Forecast) (Forecast)

2012

2016

2021

2001

2006

2011

(Forecast) (Forecast) (Forecast)

Source: 2001, 2006: Clarkson

2011, 2012, 2016, 2021: NYK Research Group

2012

2016

2021

(Forecast) (Forecast) (Forecast)

Grain means wheat + coarse grain

Source: NYK Research Group referring USDA

Import
Iron Ore

Coking Coal

Steaming Coal

Grain

China

EU15

Japan

Japan

India

EU15

China

Japan

Korea

Japan

Korea

Mexico

Korea

Taiwan

Other

China

Korea

Other

EU15

India

Other

Egypt

Saudi Arabia

China

(Millions of tons)

(Millions of tons)

Other
(Millions of tons)

(Millions of tons)

1,500

400

1,250

350

1,200

320

1,000

280

900

240

750

210

600

160

500

140

300

80

250

70

2001

2006

2011

2012

2016

2021

(Forecast) (Forecast) (Forecast)

2001

2006

2011

2012

2016

2021

(Forecast) (Forecast) (Forecast)

0 2001

2006

2011

2012

2016

2021

(Forecast) (Forecast) (Forecast)

Source: 2001, 2006: Clarkson

2011, 2012, 2016, 2021: NYK Research Group

2001

2006

2011

2012

2016

2021

(Forecast) (Forecast) (Forecast)

Grain means wheat + coarse grain

Source: NYK Research Group referring USDA, OECD-FAO

N Y K

a c t

o o k

2013

17

 Dry Bulk Market Trends

Norwegian Time Charter Index (Left)

Jan. 1971Dec. 1984

Jan. 1985Oct. 1999
Nov. 1999~

BFI/BDI monthly average (Right)

Norwegian Time Charter Index (1971 = 100)

Baltic Freight Index (Jan. 4, 1985 = 1,000)
Baltic Dry Index

2,400

12,000

2,000

10,000

1,600

8,000
Iraq War
(Mar. 2003May 2003)

End of the Cold War

(Dec. 1989)

Oil Crisis
(Oct. 1973Aug. 1974)

6,000

1,200
4th Middle East War
(Oct. 1973)

9/11
(Sept. 11, 2001)

IranIraq War
Gulf War
(Sept. 1980Aug. 1988) (Aug. 1990Feb. 1991)

4,000

800
Oil Crisis
Plaza Agreement Collapse of U.S.S.R.
Suez Canal Reopens
(Oct. 1978April 1982)
(Sept. 1985)
(Dec. 1991)
(May 1975)

Asian Currency Crisis

(July 19971998)

400

Financial Crisis
(Sept. 2008~)

717273747576 77 78 79 8081828384858687888990 9192 93 949596 979899000102 03 04 05 06 07 08 09 10 111213

N Y K

a c t

o o k

2013

18

2,000