The shipping industry is witnessing a significant impact due to the aftershocks of the US-China trade war. According to Xclusiv Shipbroker, the dry bulk sale and purchase (S&P) market experienced a marked slowdown in the first quarter of 2025.
The total number of transactions fell by approximately 18% year-on-year, dipping from 238 vessels in Q1 2024 to 196 vessels in the same timeframe this year. Initially, January saw a lackluster performance with only 56 transactions, but activity picked up momentum throughout the quarter, culminating in a peak of 70 transactions in March.
Within the different vessel categories, Handysize ships led the transactions with 50 sales, although this was a slight decrease from 52 transactions in the same quarter last year. The Supramax and Panamax segments saw significant activity as well, with 38 and 36 sales, respectively.
Interestingly, the Panamax vessels showed a year-on-year increase, climbing from 23 transactions last year, while Capesize activity sharply declined to just 16 sales, which is half of the 32 recorded in Q1 2024. A closer look at the vessels involved reveals a distinct preference for mid to older-aged ships in the market.
Vessels aged 11 to 15 years accounted for 45% of the transactions, while those aged 16 to 20 years made up 25%. Conversely, modern vessels (0–10 years old) represented only 12% of deals, a significant drop from 24% in the previous year.
On the selling side, Greek owners led the market by offloading 44 vessels, followed by their Japanese and Chinese counterparts, marking a shift in fleet strategies amidst evolving geopolitical dynamics and environmental pressures.