Dry Cargo Chartering
Dry bulk chartering for coal, iron ore, grain, cement, fertilizer, bauxite, steel and scrap. Ships from Capesize to mini-bulker, on voyage, time, COA and consecutive voyage fixtures.
Every dry bulk cargo
Dry bulk chartering is our core desk. Since 2022 we have fixed cement, quicklime, bitumen, and mining ores and earths. Our project desk has also fixed project cargo and machinery. We cover every ship size, from mini-bulkers for shallow ports up to Capesize. We focus on the Caribbean and Latin America, where ships that fit the ports are hard to find and many shippers need a ship every month. VLOC cargoes of 300,000 MT plus run on the long routes from Brazil to China and from West Africa to the Far East. Most cargoes in this market are 30,000 to 80,000 MT on Supramax, Ultramax and Panamax ships. That is where you find the most owners and the most cargo interest. We cover any cargo that travels in the hold of a bulk carrier.
We follow the whole fleet across all sizes, so we can suggest a switch. One ship size can get expensive while another stays open. A cargo of the right size can often be split or combined to use the size that is open. Each size has its own supply and demand, its own Baltic index and its own group of period charterers. We work all of them at the same time.
Most dry cargo work in this market is voyage charter on the prompt market, where ships are fixed at short notice. You buy one voyage on a set laycan, and the owner carries the risk on the ship. The rest splits three ways. Time charter suits clients with rolling shipping programmes who want a say over routing and how much each ship loads. A contract of affreightment suits industrial shippers with yearly volume commitments. It locks in their cost per tonne-mile over a set volume. Consecutive voyages suit a repeating route. The same ship runs the same loop, and the owner spreads the cost of empty ballast legs over several voyages. The right choice depends on how predictable your cargo is, how much freight price risk you can carry, and how important the trade is to your business.
Cargoes we cover
We cover major bulks, minor bulks, industrial cargo and specialty cargo. Each cargo below links to a page with background on that commodity.
Coal
Steam coal and coking coal on Capesize and Panamax ships. Loading in Indonesia, Australia, Colombia and the US Gulf.
Read moreIron Ore
Fines, pellets and lump. Capesize, and VLOC for long hauls. From Brazil, Australia, West Africa, India and Sweden.
Read moreGrain
Wheat, corn, soybean and barley on Panamax, Supramax and Handymax. Clean holds and checked weights are key.
Read moreCement
Bulk and bagged cement on Supramax and Handymax. Self-discharging or geared ships serve terminals with no shore equipment.
Read moreFertilizer
Urea, DAP, MOP and ammonium nitrate on Supramax and Handymax. Nitrate cargoes need special handling.
Read moreBauxite
Exports from Australia, Guinea and Indonesia to refining centres. Capesize and Panamax ships, often under a COA.
Read moreSteel & scrap
Coils, plate, billets and scrap metal on Handysize and Supramax with the right gear. Lashing and securing are critical.
Read moreSpecialty
Pet coke, alumina, wood pellets, manganese, chromite and sulphur. Often under a COA, often on Supramax or Handymax.
Read more| Cargo Category | Examples | Typical Vessel | Charter Type |
|---|---|---|---|
| Major bulks | Iron ore, coal, grain | Capesize, Panamax | Voyage, COA |
| Minor bulks | Cement, fertilizer, sugar, salt | Supramax, Handymax | Voyage |
| Industrial | Steel, scrap metal, aggregates | Handysize, Supramax | Voyage |
| Specialty | Bauxite, alumina, pet coke, wood pellets | Supramax, Handymax | Voyage, COA |
These four groups behave very differently in commercial terms, and we handle each one in its own way.
Major bulks
These are the high-volume trades that anchor the dry market, and most run on contracts. A single iron ore or coal cargo runs from 75,000 MT on a Panamax up to 180,000 MT on a Capesize, and 300,000 MT plus on a VLOC. One mining company or utility can ship tens of millions of tonnes a year through a mix of COA and spot deals. Grain is more seasonal and more exposed to weather, and it is split among more cargo owners. Grain cargoes tend to be 30,000 to 70,000 MT on Supramax and Panamax. The major bulks set the tone of the Baltic indices. Even clients who never ship on a Capesize watch the BCI to see where the wider market is going.
Minor bulks
This is the technical end of our work. Cement moves in bulk and in bags. Bagged cement needs particular care with hold cleanliness, dunnage (the material that protects and separates cargo) and ventilation. Fertilizers fall into two groups. Urea and DAP absorb moisture, and moisture or contamination can destroy the cargo's value. Ammonium nitrate falls under an IMSBC group classification and has its own stowage rules. Sugar and salt are sensitive to what the ship carried before. Their holds need inspections to food-grade or grain-grade standards. Cargoes are usually 25,000 to 55,000 MT on Supramax and Handymax ships. Here the broker's job is as much about finding a suitable ship as about the freight.
Industrial cargoes
Here the main problems are stowing and securing the cargo. Steel coils, plate and billets need lashing plans, dunnage layouts and often a surveyor sign-off before sailing. Scrap is awkward and heavy. It wears down holds and hatches, and it needs a ship and owner willing to take it. Aggregates and clinker move on Handysize and Supramax. They often need geared ships because the terminals have no shore cranes. Cargoes are smaller, 15,000 to 50,000 MT. Fewer owners will quote a competitive price than the size of the fleet suggests.
Specialty cargoes
Here the stowage factor and our contacts with niche owners matter most. Pet coke, alumina, wood pellets, manganese, chromite and sulphur each carry their own handling, fire, dust or self-heating risks. Far fewer owners will load them cleanly than will quote a freight price. A good share of specialty volume moves under COA for that reason. Shippers want to keep the same ship and owner, and they value that more than chasing the prompt market.
From mini-bulker to VLOC
We can reach every dry bulk ship size: Capesize (~180,000 DWT), Panamax/Kamsarmax (~75,000 to 82,000 DWT), Supramax/Ultramax (~58,000 to 63,000 DWT), Handymax (~45,000 to 55,000 DWT), Handysize (~25,000 to 40,000 DWT), and mini-bulker (~3,000 to 10,000 DWT). For iron ore programmes we also reach VLOCs (320,000+ DWT) through owners we know on the long-haul routes.
We choose the ship before we talk price. We match the ship’s DWT and cubic capacity to your cargo. We check its age and class, its last cargo, where it is now, whether it has its own cranes (geared or gearless), and any trading limits. We do all of that before we show you options. The cheapest ship on paper is rarely the cheapest fixture.
How Bulkargo fixes a dry cargo charter
Every dry cargo fixture rests on five or six linked decisions. What is the cargo? Which ship size fits it? Where is the market today, and where is it heading? What is the right freight, and what are the right commercial terms? Which charter party form protects both sides best? And how will the work after the fixture fit together? Each decision affects the others. A cargo with a high stowage factor takes a lot of space for its weight, so it needs more cubic capacity. That changes the ship size, which changes the index we compare prices against. That in turn changes the charter party form we recommend.
We watch the market the whole way through. We track the Baltic Dry Index every day, along with the index for each ship size: the BCI for Capesize, the BPI for Panamax and Kamsarmax, the BSI for Supramax and Ultramax, and the BHSI for Handysize. We watch the FFA forward curves where they exist. FFAs are contracts that set a freight price for a future date. We also follow the lists of open ships in each size, the number of empty ships heading to the main loading areas, and the cargoes coming up over the next two to four weeks. None of this guarantees the right call. It does let us advise you to fix now, wait for the next session, or widen the search. Here is what we do on every fixture:
- 01
Cargo assessment
We look at the stowage factor, the hold cleanliness needed, the handling gear, and draft limits at the load and discharge ports. For dirty cargoes we check whether the discharge port accepts them.
- You provide
- Cargo type, tonnage, ports, laycan
- We handle
- Stowage and handling review
- 02
Vessel selection
24 to 72 hrsWe ask our owner and operator network for ships that fit your cargo and laycan. You get three to six suitable options unless the market is very tight.
- We handle
- Market canvass, vessel shortlist
- 03
Market timing
We check the BDI and the size indices every day and tell you whether to fix now or wait. For COA talks we also look at FFA curves where they exist.
- We handle
- Index review, fix-or-wait advice
- 04
Rate negotiation
We negotiate the freight, plus laytime, demurrage, dispatch, loading and discharge rates, address commission, and any clauses your cargo needs.
- We handle
- Compare with recent fixtures, negotiate all the terms
- 05
Fixture & charter party
Both sides agree the recap. Then we draw up the charter party on Gencon, NIPPONCOAL, AMWELSH or a form made for your trade. We check every clause before you sign.
- We handle
- Recap, charter party review, signing
- 06
Pre-loading & post-fixture
Before loading we handle the vessel nomination, the notice of readiness (NOR), the agent appointment, the hold inspection and surveys. After discharge we settle demurrage, finish the documents and support you in any dispute.
- We handle
- Operations contact, settlements, support after the fixture
The charter party form is part of the price negotiation. It is seldom a back-office detail. Gencon is BIMCO’s general-purpose bulk form. It is still the most common base for voyage charters in minor bulks, fertilizers, aggregates and specialty cargoes. NIPPONCOAL is the form for coal into Japan and the wider Pacific. Its clauses follow coal terminal practice on sampling and demurrage. AMWELSH is the standard form for US coal exports from Hampton Roads and the US Gulf. It also has its own laytime and weighing clauses. We also work from SYNACOMEX for grain, FERTIVOY for fertilizers, and a shipper’s or charterer’s own pro-forma where the trade calls for it. Choosing the wrong form is one of the costliest mistakes a desk can make. So is accepting the other side’s pro-forma without working through the rider clauses.
The charter party also decides who pays to load and discharge the cargo. Under liner terms, the owner pays. Under FIO (free in and out), FIOS and FIOST, the charterer pays. Trade-specific forms use the versions in between.
Our work after the fixture matters most on difficult trades. The broker stays with you after the charter party is signed. We handle vessel nomination and substitution, the notice of readiness, the port agent appointment, and the hold inspection and surveys at loading. We arrange the lashing survey sign-off where needed. We review the statement of facts at both ports, calculate laytime and demurrage, and handle the bill of lading and other documents. Disputes can arise over off-spec cargo, a draft survey that does not match, or a weather delay. We then work with both sides, and with their P&I clubs and lawyers where needed, to keep the fixture on track to final settlement. The broker who negotiated the recap also runs the demurrage calculation at the end. Nothing gets lost in a handover, and you avoid the cost that comes when a desk splits sales from operations.
The Capesize with the cheapest freight is rarely the cheapest fixture. You also have to count how well the ship fits the cargo, whether it suits the ports, and how reliably it runs.
Caribbean, Atlantic, Pacific, Indian Ocean
Caribbean. Aggregates, clinker, cement, sugar and inter-island cargo move on Handysize, mini-bulker and the smaller Supramax ships. Colombian coal exports go on Panamax and Supramax. Bagged bitumen moves as a regional break-bulk specialty. US Gulf coal and pet coke also go to Caribbean power utilities and cement plants, which overlaps with our Atlantic work. Short voyages, repeat calls and many regional ports make this a steady minor bulk market.
Atlantic. Iron ore from Brazil and West Africa to China and Europe is the dry market’s longest trade in tonne-miles. It centres on the Vale-Tubarão complex and the Ponta da Madeira export channel. It is also the single biggest driver of Capesize and VLOC demand. The cost of a round voyage on this route sits at the heart of the BCI. The number of empty ships in the Atlantic feeds straight into Pacific freight prices, because owners move ships to whichever basin pays more. Grain from the US Gulf and the east coast of South America to Europe, North Africa and the Far East drives Panamax and Supramax demand each season. The Mississippi export window and the Brazilian and Argentine harvest peaks set the calendar. US Gulf pet coke moves on Supramax and Handymax to India and the Mediterranean. Coal from Colombia and the US Gulf still supplies European utilities and Mediterranean cement makers, despite the long-term shift in demand for thermal coal.
Pacific. Australian coal and iron ore to China, Japan, Korea and India is the main trade for Capesize and Panamax. Most of the Pacific Capesize fleet trades around shipments from Port Hedland, Dampier and Newcastle. The Australian export window often sets the short-term price direction for all Capesizes. Indonesian coal to China, India and Southeast Asia moves mostly on geared Supramax and Panamax. The Kalimantan ports load from rivers and with floating cranes. Bauxite from Australia and Indonesia to China feeds the world’s largest alumina refining base, and more of it now trades on COA. Grain, cement, clinker and minor bulks within Asia fill out the Handysize and Supramax work.
Indian Ocean and Middle East. Indian iron ore, bauxite and grain exports run on Supramax and Panamax to China and Southeast Asia. Urea, sulphur and other fertilizer feedstocks leave the Arabian Gulf on Supramax and Handymax. They often go to farm markets in South Asia, Africa and the Americas. Mineral exports from Mozambique and Tanzania are a growing part of the long-haul Supramax work. Aggregates from the Gulf to the Indian subcontinent fill out short-haul Handysize work.
Intra-regional. Grain moves through the Mediterranean and Black Sea from Russian, Ukrainian, Romanian and Bulgarian export terminals. These routes support a deep Supramax and Handysize market through the Bosphorus. In the Baltic and North Sea, steel, scrap, fertilizer and minor bulks move short distances on Handysize and mini-bulker ships. Ice class becomes a factor on these routes in winter.
Why clients use Bulkargo for dry cargo
We are an independent broker. We own no ships, and we are not the in-house broker of any fleet. We recommend the Capesize that fits your cargo. We have no ship of our own to keep busy. As dry bulk brokers, we cover every dry cargo from mini-bulker to Capesize, and no tie to an owner can bias the fixture.
We are a full-service desk. The same broker stays with your fixture from the inquiry to the final documents and demurrage. No separate operations team takes over.
We work seven days a week. Bulk freight does not stop at weekends. Short-notice deals, distressed cargoes, open ship slots and weather disruptions often come up outside office hours.
Our how it works page sets out the full fixture process. The fastest way to start is to send your cargo details on a quote request.
Related references
Charter modalities
Trade lanes
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Tell us about your cargo. A broker will respond within one business day with an initial market read and next steps.
Cargoes we have fixed since 2022
- Cement
- Quicklime
- Bitumen
- Project cargo
- Machinery
- Mining ores and earths