GLG Network Survey: Dry Bulk Shipping

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GLG interviewed 60 executives internationally at bulk shipping operators who discussed current trends within the industry.

What will you learn from this survey?

  • The survey provides a global overview of the Dry Bulk Shipping industry, with regional perspectives from the US, Europe and Asia.
  • Respondents discussed the operational challenges that are currently being faced within the industry as a result of COVID-19.
  • Furthermore, the research covered topics such as the freight rates, slow steaming and environmental concerns.

Examples of findings:

  • Looking at the pricing power trend within the past 3 years, 82% of respondents believe that bulk carriers have more pricing power.
  • The vast majority of respondents (98%) expect the demand for bulk shipping to grow in 2021, with 23% expecting this growth to be more than 10%.
  • The survey examined the current high freight costs in the industry, with 48% of respondents believing these costs will be cut as the pandemic recedes.


The GLG Surveys team drafted the questionnaire with the support of GLG Network Member, James King, Mark Williams, Managing Director at Shipping Strategy Ltd.

  • 1 x Individual responses (“raw data”) in Excel.
  • 1 x PPT report with aggregated data.
  • Executive summary with key takeaways and highlights from the raw data.


  • The dry bulk freight market is at multi-year highs. How long do you think this will last?
  • For political reasons, China has banned imports of Australian coal, switching to other suppliers. Do you think China will maintain this ban indefinitely?
  • Which alternative exporter do you think benefits the most from China’s ban on imports of Australian coal?
  • Could you estimate the change in demand for dry bulk shipping in 2021 globally?
  • To what extent do you agree with the following statement: “2021 is likely to be the peak of the bulk carrier freight market cycle”?
  • Looking at the next three years, do you expect to see merger and acquisition activity in dry bulk shipping?
  • Do you think that current high dry bulk freight costs are a consequence of the COVID-19 pandemic?
  • If bulk carrier operators must pay a carbon levy, do you believe they will pass it on to customers?


This survey is available to subscribers of the Energy and Industrials (EI) sector (Limited subscriptions and above). This offer includes the raw data file and a high-level presentation through PowerPoint. Please contact your GLG representative for details on your firm’s access.

Request other available and upcoming Network Surveys within the sector:

  • EU Green Deal II – New!
    • Second survey to follow the initial wave conducted in March 2021. 65 senior executives discussed their drilling activity and contractual impact in the last 12 months, impact of COVID-19 and their projections for the short and medium term.
    • Questionnaire was drafted by Roger Hodgson, former Commercial and Marketing Director at Weatherford Drilling International.
  • Waste Management – New!
    • 50 senior executives working within the Waste Management industry in Europe commented on the outlook of the industry and the impact of certain operational difficulties surrounding COVID-19 and Brexit.
    • Questionnaire was drafted by Gary Whitehead, former Director of Industrial and Commercial Division at Suez SA.
  • Testing, Inspection and Certification – New! 
    • 70 senior executives working at Testing, Inspection and Certification companies within the US and Europe commented on the future of the industry and projected growth as well as the impact of COVID-19 and the disruption in terms of postponements and cancellations.
    • Questionnaire was drafted by Emmanuel-Jean Petit, former CEO at Apave International.
  • GLG Tracker: Drilling Equipment II – New! 
    • GLG interviewed 65 senior executives who discussed their drilling activity and contractual impact in the last 12 months, impact of COVID-19 and their projections for the short and medium term. The initial wave of this survey was conducted in March 2021.
    • Questionnaire was drafted by Roger Hodgson, former Commercial and Marketing Director at Weatherford Drilling International.



Please be advised that GLG Network Surveys operate differently than traditional GLG consultations, surveys, teleconferences, etc. and it is advisable that you consult with your firm’s legal and/or compliance department to review your use of the product and the payment for such work under your current subscription.

By downloading this document and/or participating in the Network Survey, you understand and agree that the information and material provided by GLG, including survey results and survey proposal information, is provided for your own insight and informational purposes only. You further acknowledge and agree that this is a Network Survey for multiple GLG clients, and the results will be provided to all GLG clients that agree to participate in the Network Survey and GLG clients that agree to purchase the Survey results in the future. All survey results do not constitute investment advice or a recommendation. In using this Survey, you agree to hold Gerson Lehrman Group and the Survey respondents harmless and free of all liability as a result of your use of this Network Survey, other than liability resulting from the gross negligence or wilful misconduct of the protected party. You otherwise agree to be bound by Gerson Lehrman Group’s Usage Policies in your interactions with Gerson Lehrman Group and your receipt of services. These Survey results are for are for client’s own use and client shall not redistribute, disseminate, publish, or display the same, in whole or in part, to any third parties or publicly without the prior written permission of Gerson Lehrman Group, except explicitly set forth in your agreement with GLG. This survey will be double-blinded to both client and respondent. GLG reserves the right to restrict the number of clients that can pre-commit access. These Network Surveys are priced outside of standard GLG subscriptions but at a substantially reduced price to commissioning a fully proprietary GLG Network Survey. Upon finding these terms acceptable, please send an affirmative confirmation via email, which GLG will file in its records. Once confirmed, please note that the Client’s agreement to purchase the Network Survey is a legally binding and irrevocable commitment. If the survey is not included within your subscription, GLG will invoice Client for the fees due for the Network Survey. Please note that some respondents may not be Network Members, and the Terms and Conditions of Network Membership would not apply to such respondents and detailed records for them will not be available aside from the information that GLG captures in the Network Survey.

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