Over the past couple of years, dry cargo has received a crash course in dealing with shocks, surges and a whole flock of swans from black to white.

Dam collapses, a global pandemic, port congestion, IMO 2020 fuel regulations, rapidly evolving trade sanction regimes — the sector has had to react to much.

As maritime trade responds to the evolving threats to vessels in the Red Sea, it begs the question: will 2024 be a case of “here we go again?”

The past couple of years — especially 2021 — have demonstrated just how sensitive the dry cargo trading fleet is to changes...