TThe dry bulk market was supported by a further increase in Australian iron ore exports during the first quarter of 2026. In its latest weekly report, shipbroker Panchero Costa said that “2025 was another positive year for global seaborne iron ore trade. In the period from January to December 2025, global loadings of iron ore increased by +3.5% year-on-year to 1,732.0 million tons, based on ship tracking data from AXS Marine. Exports rose strongly, with export volumes rising +3.5% YoY in January-March 2026 to 398.1 million tons. Exports from Australia in January-March 2026 rose +3.8% YoY to 221.1 million tons. From Brazil, exports rose +4.9% YoY in January-March 2026 to 83.4 million tons YoY to 12.9 million tons from South Africa by +8.4% y/y to 14.8 million tons, India saw a correction of -11.7% y/y in January-March 2026 to 7.5 million tons, and exports from Norway rebounded by +4.4% y/y to 5.7 million tons.
According to Panchero Costa, “Demand remains primarily driven by mainland China, which accounts for 73% of imports. Iron ore imports to China increased by +3.6% y/y in January-March 2026 to 291.6 million tons. Imports to Japan decreased by -4.4% y/y to 20.4 million tons. To the European Union, imports increased by +2.6% y/y to 17.9 million tons. Volumes to South Korea increased by +0.5% y/y to 18.1 million tons. Imports to Malaysia decreased by -6.0% y/y to 6.0 million tons. In Oman, volumes decreased by -43.3% y/y to 2.0 million tons. To Bahrain -52.6% y/y 1.6 million tons.
“Australia is the world’s largest exporter of iron ore, with a market share of 55.5% in January-March 2026, well ahead of Brazil’s 21.0%, South Africa’s 3.7%, and Canada’s 3.2%,” the shipbroker noted. “Export volumes from Australia have been relatively stable in recent years, with moderate increases. In 2020, iron ore exports from Australia rose by +4.1% year-on-year to 903.0 million tons, followed by a -0.3% y/y decrease in 2021 to 900.0 million tons, +0.8% y/y increase in 2022 to 907.2 million tons, +0.9% y/y increase in 2023 to 915.5 million tons, +1.3% y/y increase in 2024. 927.4 million tons In January-March 2026, shipments from Australia rose +3.8% year-on-year to 221.1 million tons, from 213.0 million tons in the same period in 2025.
Australia’s main iron ore export terminals are: Port Hedland (133.6 million tons loaded January-March 2026), Port Walcot (36.9 million tons), Dampier (33.5 million tons), Ashburton (7.5 million tons), Cape Preston (2.7 million tons), Geraldton (2.4 million tons), Esperance (1.3 million tons), and Yalla (1.2 million tons), the vast majority of iron ore volumes being loaded. From Australia (0.4 million tons) (78.8% in January-March 2026) on Capesize and Newcastlemax vessels (i.e. vessels in the 120-220 thousand dwt range), with 15.4% on VLOC tankers, 3.9% on Post-Panamaxes, and 1.1% on Kamsarmaxes in mainland China Imported from Australia, with an 83.6% share of Shipments from Australian ports in January-March 2026. Exports to mainland China from Australia increased +3.5% y/y to 184.9 million tonnes in January-March 2026, from 178.7 million tonnes in January-March 2025. The second largest destination for Australian crude is South Korea, with a 6.1% share in 2026. Exports from Australia to South Korea increased +10.1% y/y To 13.4 million tonnes in January-March 2026, from 12.2 million tonnes in January-March 2025. Exports to Japan fell by -5.6% y/y to 11.0 million tonnes in January-March 2026. Volumes from Australia to Taiwan increased by +4.0% y/y to 3.4 million tonnes in January-March 2026. Australian iron ore volumes to Vietnam decreased by -10.9% y/y to 3.3 million tons in January-March 2026,” concluded Banchero Costa.
Nikos Rousanoglou, Global Hellenic Shipping News
