Dry bulk shipping is the unseen cornerstone of the global economy. Transporting everything from iron ore and coal to grains and fertilizers, bulk carriers move the raw materials that underpin entire economies. The dry bulk is also the largest section of the shipping industry in terms of both vessel numbers and deadweight capacity.
Bulk carriers account for 43% of the global fleet by capacity and transport over 50% of the world’s seaborne trade. Yet, despite its vital importance, the sector largely operates out of the spotlight, navigating a complex web of stringent regulations, geopolitical uncertainty, and the urgent imperative for sustainability.
At the heart of the sector, the International Association of Dry Cargo Shipowners (INTERCARGO) unites and champions quality dry bulk shipping. The Association brings together more than 460 forward-looking companies that collectively manage over 4,600 bulk carriers across more than 35 countries.
Close collaboration with the International Maritime Organization (IMO) ensures that regulations are forged on a global scale, guaranteeing a level playing field across disparate jurisdictions.
Concurrently, regional developments—particularly within the European Union—demand vigilant monitoring and proactive engagement. As regional frameworks governing emissions and sustainability continue to evolve, INTERCARGO plays an instrumental role in ensuring that bulk carrier owners are heard as they advocate for new regulations that remain as workable as they are ambitious.
In the context of the decarbonization debates at the IMO, INTERCARGO stresses the need for global greenhouse gas reduction measures that are both ambitious and functional—which is to say transparent, practical, and straightforward to implement. This is especially vital for the myriad small and medium-sized enterprises that form the backbone of the industry. INTERCARGO cautions against fragmented regional approaches, emphasizing that any effective energy transition must be underpinned by the widespread availability of safe, scalable alternative fuels and technologies.
Recent years have underscored global shipping’s vulnerability to disruptions. From geopolitical tensions and regional conflicts to trade restrictions, bulk carrier operators face a broad spectrum of challenges.
INTERCARGO remains in a close, ongoing dialogue with its members with a view to assessing these pressures in real time. It then channels this on-the-ground intelligence to governments, regulatory authorities, and international forums, thereby ensuring that the operational realities of dry bulk shipping are accurately reflected in high-level policy discussions. Strategic partnerships with other industry associations further amplify this voice, firmly positioning dry bulk shipping within the broader discourse on the resilience of global trade.
Recently, amidst the escalation of tensions in the Persian Gulf and the Strait of Hormuz, INTERCARGO reiterated that the safety and well-being of seafarers must remain the absolute highest priority. Expressing deep concern over attacks on merchant vessels—including bulk carriers—and the tragic loss of human life, the Association underscored that seafarers must never become targets in the geopolitical crossfire.
It noted that import-dependent regions—particularly the world’s poorest nations—are uniquely vulnerable to interruptions in energy and fertilizer supply chains. Such disruptions can precipitate diminished agricultural yields, soaring food prices, and intensified pressure on already fragile economies.
Safety remains the permanent cornerstone of INTERCARGO’s mission. Beyond advocacy and representation, the Association provides vital practical support through comprehensive guidelines, the dissemination of best practices, and robust knowledge-sharing platforms among its members.
Whether it be addressing piracy and maritime security in coordination with naval forces, fortifying defenses against cyberthreats, or cultivating a pervasive safety culture on board member fleets, INTERCARGO ensures that shipowners do not have to face these formidable challenges by themselves. This collective approach significantly bolsters resilience across the entire sector.
The Association’s “Benchmarking Bulk Carriers” report highlights the exceptionally high levels of safety and compliance maintained across member fleets. By championing transparency and encouraging standards that far exceed minimum regulatory baselines, INTERCARGO has cultivated a culture where continuous improvement and operational excellence are the norm.
Sustainability stands as one of the defining challenges of modern shipping and, for the dry bulk sector, one of the most complex. As the largest segment of the maritime industry, which frequently has to operate in unpredictable tramp shipping markets, bulk carriers are faced by unique hurdles on the road to decarbonization.
Sustainability, however, extends far beyond emissions. INTERCARGO champions a broader commitment that encompasses environmental performance, social responsibility, and rigorous corporate governance. A prime example of this is its founding role in the establishment of the Dry Bulk Center of Excellence and the DryBMS framework.
Moreover, recognizing that the human element is the ultimate catalyst for a truly sustainable industry, particular emphasis is placed on seafarers’ welfare.
Ultimately, dry bulk shipping is far more than a logistical network of vessels and cargoes—it is a global community. Behind every voyage are dedicated seafarers and companies working tirelessly to keep supply chains flowing and economies thriving.
Looking ahead, INTERCARGO’s priorities remain deeply rooted in its core mission. The safety and well-being of seafarers will continue to command the highest priority. The Association will persist in advocating for practical, effective pathways toward decarbonization, all the while ensuring that independent bulk carrier owners retain a powerful, unified voice on the international stage.
At the same time, sustainability will increasingly dictate the industry’s future trajectory. By enhancing the value it delivers to its members and cementing its role as both a leading voice and a trusted partner, INTERCARGO aims to anchor and support the sector through an era of profound global transformation.
Dr. Kostas G. Gkonis is the Secretary of the International Association of Dry Cargo Shipowners (INTERCARGO).
