2024A-OS9-5 Recent Developments in Spot Contracts for Dry Bulk Carriers: A Geospatial Analysis Using AIS Data

Abstract

This study investigates geographic patterns in the dry bulk spot market using data from 2016 and 2023, with the goal of enhancing the efficiency of identifying loading locations for ballast vessels. By integrating AIS and fixture data, the analysis reveals that most vessels secure fixtures near discharge dates. Capesize vessels received fixtures later in 2023 than in 2016, while Panamax and Handymax vessels secured them earlier. Fixtures in 2023 were also generally closer to loading points, in both short-haul and long-haul trades. These findings highlight shifts in contract behaviors in the dry bulk market and lay the groundwork for future research aimed at improving vessel decision-making efficiency.