CMA Shipping Conference - Day 2| Dry Bulk AgendaWednesday, 11 March 2026

As the dry bulk shipping industry faces a critical transformation in 2026, the US market emerges as a focal point of unprecedented change driven by record agricultural production and dramatic fleet expansion. With the global dry bulk fleet reaching 5,818 vessels through 700 new deliveries, this session examines how supply surge dynamics intersect with America's agricultural export boom. We will also look at the strategic implications of deteriorating US-China trade relations, where American agricultural exports to China are forecast to collapse to just $9 billion (the lowest since 2007), forcing a fundamental restructuring of traditional shipping routes and creating new opportunities in Mexico, Canada, and other emerging markets.

The 2025-2026 period represents a critical inflection point for the dry bulk market, where unprecedented fleet expansion threatens to outpace demand growth and fundamentally alter competitive dynamics. With 700 new vessel deliveries scheduled for 2026 alone, the industry faces significant oversupply risks that could lead to softer freight rates and intensified competition for cargo, particularly in the second half of 2026. This supply surge coincides with challenging market conditions including global economic cooldown, persistent trade relationship tensions that continue limiting US agricultural exports to China, commodity price pressures affecting charterer profitability, and insufficient scrapping activity to offset the massive influx of new tonnage entering the market.

Success in this environment will depend on operational excellence, strategic relationship management, and the ability to capitalize on trade flow diversification while navigating the complexities of an oversupplied vessel market.

US operators face complex fleet deployment decisions requiring strategic positioning of tonnage, optimization of charter durations, and enhanced operational efficiency to maintain competitiveness in oversupplied markets.

In this Forum, we address 5 key aspects of operation excellence to aid operators achieve the best possible results in 2026 and beyond:

• Fleet Deployment Strategies
• Optimising for Supply Chain Efficiency
• Port State Control Performance
• Data-Driven Operations
• Regulatory Compliance and Training and Certification Standards

The 2025-2026 period marks a critical transition phase where alternative fuels move from pilot programs to early commercial deployment in the US bulk market. By August 2025, 39 ammonia-capable ships were on order globally, with the first deliveries of ammonia-burning vessels expected by late 2025 or early 2026, directly impacting US bulk operators' fleet planning decisions. The 50% increase in alternative-fuelled ship orders during 2024 creates momentum entering 2025, but bulk operators face immediate challenges securing reliable green methanol and ammonia supplies as production scales up to meet growing demand from the 600+ vessels advancing decarbonization efforts.

Operators must carefully evaluate whether alternative fuel investments provide sufficient competitive advantages to justify the additional costs and operational complexity during a period when traditional bulk shipping economics face significant pressure from fleet oversupply and potential demand weakness.

Our panel of experts will address:

• Infrastructure Gaps and Supply Chain Constraints: Future (or current) fuel mix
• Operational Implementation :Engine technology availability
• Commercial Viability: Factors surrounding the adaption in the market

Technology is by nature an exciting, if at times underwhelming or mysterious area, but it is undeniable that adopting and implanting tech is often what makes or breaks a company. In the Bulk segment, key technological focus areas include autonomous hull cleaning systems that operate while vessels are underway, AI-driven route optimization for trans-Pacific and Atlantic routes, and predictive maintenance systems using IoT sensors throughout vessel operations. Digital Twin technology enables comprehensive supply chain modelling from inland grain elevators to international delivery ports, while blockchain integration streamlines cargo documentation and automated settlements for charter party agreements. The convergence of green technology integration with advanced automation systems creates significant opportunities for operational efficiency and environmental compliance during this transition period.

In this session assess the technological landscape for the Dry Bulk sector and the advantages it does or potentially could yield.

US dry bulk charterers and brokers are navigating a complex market environment in 2025-2026. Key focus areas include managing route risks from Red Sea tensions and trade wars affecting US agricultural exports, optimizing vessel selection based on the size effect where larger vessels maintain steady utilization, and coordinating seasonal grain movements during peak harvest periods when terminal congestion creates operational bottlenecks. Technology integration becomes critical, with charterers adopting digital platforms for real-time market data, AI-driven route optimization, and enhanced supply chain visibility through IoT and blockchain systems.

This session will address 5 key areas for charterers and brokers:

1. Market Volatility and Strategic Contracting

2. Geopolitical Risk and Route Management

3. Technology Integration for Competitive Advantage

4. Seasonal Coordination and Cargo Optimization

5. Environmental Compliance and Futureproofing

A number of changes of implemented in 2025 by organisations like RightShip, Baltic Exchange and Veson or IACS reflect the industry's continued focus on safety improvement in the dry bulk sector, with vetting serving as the critical gateway for commercial acceptance. The expanded requirements and reduced age triggers represent a significant tightening of safety standards that will affect vessel selection and commercial operations throughout 2025. This notwithstanding, the industry must continue to focus on safety, standards and reduction of accidents and loss of cargo and life at sea.

In this session we consider the following areas of interest, both from an operational and a commercial point of view:

• Enhanced Due Diligence Requirements

• Environmental and Sustainability Vetting

• Digital Platform Integration

Over a distinguished 27 year career in the US Navy, Captain Robert “Navy Bob” Roncska (Ret) learned a thing or two about leadership. He held positions during his Navy career such as Naval Aide to the President of the United States (sometimes referred to as carrying the nuclear football), Commanding Officer of the Nuclear Attack Submarine USS Texas, and Commodore of Submarine Squadron 7, which comprises 20% of the US Navy’s fast attack submarine force. Utilizing the leadership skills learned over his career, Bob was able to not only positively impact the lives of the sailors in his command, but at the same time improve and maximize the performance of the personnel in his command.