OVER 90% OF GLOBAL TRADE
IS CONDUCTED VIA THE SEAS
TANKER
29%Involves the carriage of liquid products such as crude oil, gasoline and natural gas.
DRY BULK
54%Involves the carriage of bulk commodities such as grain and coal. Represents approximately 54% of total seaborne trade, equating to over 5 billion tons per year or 70,000 voyages per year.
CONTAINER
17%Involves the carriage of containerized cargoes such as machinery, televisions and furniture.
DRY BULK COMMODITIES
MAJOR BULK
60% of Drybulk trade consists of the three “Major Bulk” commodities
COAL
24%Primary uses are as thermal coal for power generation (80%) and as coking coal in steel production (20%). Coal-fired power plants generate 37% of global electricity.
GRAIN
9%70% wheat and other cereals and 30% soybeans. Used for both human consumption and as animal feed. Trade patterns vary widely due to seasonality and also irregular harvest yields from year to year.
IRON ORE
27%Any of several types of rock with high iron content (around 50% or more). Used in production of steel. About 60% of iron ore exports come from Australia and Brazil.
DRY BULK COMMODITIES
MINOR BULK
40% of Drybulk trade consists of the “Minor Bulk” commodities
BAUXITE
2%The principal ore used in aluminum production. Demand for aluminum has grown for several decades due to its strength, light weight, corrosion resistance, and electrical conductivity.
CEMENT
2%The binding agent that is mixed with aggregates to become mortar or concrete. Seaborne trade has been driven by construction in Africa, Asia, and the Middle East.
FERTILIZER
3%A variety of materials, both natural and synthetic, that improve plant growth. The main nutrients are compounds containing nitrogen, phosphorus, potassium.
FOREST
7%Forest products. Examples include logs, lumber, wood chips, and wood pulp. The primary importing nations are China, Japan and Western Europe.
PETCOKE
1%Petroleum coke is a solid product derived from the oil-refining process and made mostly of carbon. Fuel-grade petcoke is used in power plants and cement kilns.
SALT
1%60% of salt is used in industrial processes such as chemicals production, well drilling, and manufacturing of products including metals, textile dyes, paper, and rubber.
SCRAP
2%Steel scrap is used as a raw material for new steel production. It is derived both from material left over from manufacturing and from recycling of machinery parts and surplus materials
STEEL
8%The largest minor bulk cargo by tonnage. Includes semi-finished steel products such as coils or slabs.
SUGAR
1%Produced from sugar beets in temperate regions and sugar cane in tropical regions. 40% of all exports are from Brazil.