10 Largest Dry Bulk Companies in 2023

Largest Dry Bulk Companies in the world in 2023

When dry cargo is transported in large quantities, technically it is referred to as “dry bulk cargo.” Most of the time, cargo like coal, iron ore, grain, and cement are transported as dry bulk. Dry bulks are made up primarily of raw materials used in the world’s production and manufacturing sectors. Such cargoes are typically transported in bulk due to factors such as convenience and economies of scale.

Major bulks and minor bulks are the two standard classifications for dry bulk commodities in the world. About two-thirds of all dry bulk trade worldwide is comprised of these major bulks, including the products like coal and grain.

Minor bulks account for the remaining one-third of dry bulk trade worldwide and comprise steel goods, sugar, and cement. Dry bulk cargo ships are designed to carry cargo inside holds or compartments.

Most of the dry bulk cargoes are filthy, dusty, and irritating. Also, the majority of bulk products have an irregular surface and are relatively small in comparison to their size. Due to that, it is hard to move such cargo around the world as separated packagers and the space consumption is also very high if it is transported as separated packagers.

The most cost-effective way is to transport such cargo in large bulk forms and at the destination, unload the cargo separately. They are generally packed loosely, usually in big bags or open containers, as they are difficult to pack in an organized manner. When it comes to companies, there are a few giants that control dry bulk operations. Let’s have a brief on the 10 largest dry bulk companies in the world in 2023.

1.     Western Bulk

Western Bulk Company is a prominent dry bulk shipping company with a fleet of between 100 and 150 commercially controlled ships. The business was founded in 1982, with its head office located in Oslo, Norway. In addition to this Norway office,  the company has facilities in Singapore, Seattle, Santiago, and Casablanca. The company’s fleets for bulk cargo cover the Handysize to Panamax ship sizes. The owning company, Kistefos, fully acquired the business of Western Bulk in 2006. Furthermore, the company was involved in cargo ownership, successfully connecting cargo with vessels and vessel operations.

2.     Star Bulk Carriers

Star Bulk Carriers is a company that facilitates seaborne transportation. It controls and oversees a fleet of dry bulk carrier ships. Athens, Greece, serves as the company’s headquarters. When considering the cargo handled by the Star Bulk Carriers, major bulks like grain, iron ore, and coal are transported by the company’s vessels.

Also, it provides minor bulks such as fertilizers, bauxite, and steel goods. There are 128 modern ships in the Star Bulk fleet. The naval fleets of Star Bulk consist of the Gargantua, Star Gina 2GR, Maharaj, Tar Ariadne, Star Virgo, Star Libra, etc.

North America, Europe, Africa, Australia, and Asia are among the regions where the company provides its services. In a safe, effective, and environmentally conscious manner, the company transports more than 60 million metric tons of freight each year. Star Bulk (Singapore) Pte. Ltd, a Singapore-based business, is also owned by the company Star Bulk.

3.     Diana Shipping

Diana Shipping Inc. is a Greek company that offers shipping and transportation services all over the world. The company established a 50/50 joint venture with Wilhelmsen Ship Management called Diana Wilhelmsen Management Limited to manage the fleet of the company, which is managed by the fully owned subsidiary Diana Shipping Services S.A.

Dry bulk vessel ownership and bareboat chartering are the company’s areas of expertise. According to the latest statistics, there are 41 dry bulk vessels in the fleet including 4 New Castlemax vessels, 10 Capesize vessels, 5 Post-Panamax vessels, 6 Kamsarmax vessels, 7 Panamax vessels, and 9 Ultramax vessels.

Additionally, the company is willing to introduce an Ultramax dry bulk vessel in April 2023 in order to increase its dry cargo operations.

4.     Golden Ocean Group

The dry bulk shipping company Golden Ocean Group was established in Norway and is registered in Bermuda. The business was established in 2004 and has its headquarters in Hamilton, Bermuda.

 Golden Ocean Group Management AS, a Norwegian company, is in charge of managing the fleet of the Golden Ocean Group. Through its fleet of owned and chartered vessels, bareboat vessels, commercial management vessels, and new buildings that are chartered out on fixed-rate time charters and index-linked time charter contracts.

The company conducts business in the transportation of dry bulk cargo, including ores, coal, grains, and fertilizers. Additionally, the Golden Ocean Group is the largest listed owner of Capesize vessels in the world.

5.     Safe Bulkers

 Safe Bulkers Inc. transports bulk commodities, primarily grain, iron ore, and coal, and is one of the world’s leading providers of marine dry bulk transportation services. The headquarters of the Safe Bulkers was established in Monaco.

The company owns a fleet of 44 vessels with a total capacity of .6 million DWT. The fleet of the company includes 17 post-panamax ships, 7 kamsarmax ships, 12 Panamax class ships, and  8 Capesize ships. In addition to those ships the company planned to construct nine new ships.

6.     Navios Maritime Holdings

Dedicated to the transportation and transshipment of dry bulk, Navios Maritime Holdings is a global, vertically integrated seaborne shipping and logistics company in the world.  The company was founded in 1992 and its headquarters were established in Piraeus, Greece.

As a ship operator, Navios deploys a broad fleet of owned, chartered, and leased boats, comprising bulk carriers in the Capesize, Panamax, Ultra-Handymax, and Handy size categories. “Navios South American Logistics Inc.”, is one of the top infrastructures and logistics businesses in the South American nation of Hidrovia also owned by Navios Maritime Holdings.

The company owns and runs the biggest bulk terminal in Uruguay, one of the biggest liquid ports in Paraguay, and one of the most profitable and prominent dry bulk businesses in South America. There are 99 vessels owned and long-term chartered by Navios Group altogether. Among them, Seventy of the ships are dry bulk ships.

7.     DryShips

DryShips Inc is engaged in the dry bulk shipping business and it is headquartered in Athens, Greece. The company was established in 2004 and is a Marshall Islands corporation. On the 1st of October 2019, it became private. In 2019, the business became a large international owner and operator of ocean-going cargo ships.

DryShips Inc. runs dry bulk vessels and engages in contracted offshore drilling. The company transports a variety of goods, including minor bulks like bauxite, phosphate, and steel products as well as major bulks like iron ore, coal, and grain.

Ultra Deep Water Rigs are also owned by Dry Ships. The dry bulk fleet of the company consists of ships including Bacon, Huahine, Judd, Marini, and Xanadu. The company declared in 2017 that it was entering the gas carrier sector as well and had acquired a very large gas carrier.

8.     Pacific Basin Shipping

Using a fleet of ships to transport a variety of cargo for many of the top commodity groups in the world, Pacific Basin Shipping Limited is a maritime transport company that specializes in international dry bulk shipping.

As a specialist in Handysize and Supramax bulk carriers, Pacific Basin Shipping Limited was established in Hong Kong Initially, in 1987. In 1996, an independent company bought it and privatized it. Later in 1998, the company was renamed Pacific Basin Shipping Limited, which is the current business name.

A large fleet of high-quality, interchangeable dry bulk ships that are customized to meet the requirements of the company’s clients, are owned and operated by the company. The Pacific Basin Shipping fleet consists of 240 ships that serve 820 ports in 85 countries.

9.     Rickmers container line

Rickmers is a Dubai-based container line, that consists of 12 modern ships. Annually, the company has the capacity to transport 3 million TEU within 71 countries.  As the world’s leading liner shipping company, it owns 21 liner services around the world to provide efficient and effective service to over 500 ports on all continents.

Apart from the transport service, the company also provides freight forwarding, financial, supply chain, and logistics services for its customers. Since dry cargo accounts for over 90% of the company’s carriages, this better identifies Rickmers Container Line as a dry cargo expert.

The company primarily serves customers in India, the Middle East, and Africa. The company provides dry containers, which can be used to transport a variety of cargo types, including solid dry materials like coal, grain, steel, ore, and other similar products. Also, customers can customize the accommodations based on their needs, as the business utilizes dry cargo containers in a variety of sizes and styles.

10.  Euroseas

In accordance with the regulations of the Republic of the Marshall Islands, Euroseas Ltd. was established to integrate the ship-owning interests of the Pittas family of Athens, Greece, which has been in the shipping industry for the last 140 years. On May 5, 2005, the company went public.

The company has its headquarters in Greece. The status of the Euroseas operations is overseen by Eurobulk Ltd. There are 17 ships in the company’s fleet, together with 10 feeders and 7 intermediate containerships. Among them, MARCOS V, SYNERGY BUSAN, and SYNERGY ANTWERP are the most popular ships. Euroseas’ most common types of vessel contracts are short-term, long-term, and index-linked charters.

The dry cargo, dry bulk, and container shipping industries are all serviced by Euroseas, which also facilitates maritime transport services for dry bulk and containerized products. It owns and handles dry bulk ships that move coal, iron ore, and other bulk materials. There are nine vessels of the Euroseas under construction, and those are expected to be introduced at the end of 2023 and 2024.