Belships CEO Warns Industry Underestimates Developing Economy Growth Potential

## Belships CEO Flags Emerging Market Opportunity Ahead of Geneva Dry 2027 The dry bulk shipping industry is failing to adequately account for the growth potential of developing economies, according to Ivar Hansson Myklebust, chair and chief executive of Norwegian operator Belships. Speaking ahead of his appearance at Geneva Dry 2027, Myklebust told Splash247 that while much of the sector's attention remains fixed on China — historically the dominant driver of dry bulk demand — the broader picture of global commodity trade is becoming increasingly complex and nuanced. China's role in global commodities markets is undergoing a notable transition, with shifting import patterns reflecting the country's evolving industrial base and domestic production capabilities. Myklebust suggested that this structural change, while significant, should not overshadow the emerging demand story taking shape across developing regions in Asia, Africa, and beyond. 'The industry continues to underestimate the growth potential of developing economies,' Myklebust said, according to Splash247. His comments reflect a broader debate within the dry bulk sector about where the next sustained wave of freight demand will originate as China's infrastructure-led commodity appetite matures. On the supply side, Myklebust also addressed fleet dynamics — a perennial concern for dry bulk owners navigating the balance between newbuilding orders, vessel retirements, and freight rate sustainability. With the global dry bulk orderbook remaining a key variable for market participants, fleet supply discipline continues to be closely watched by operators and investors alike. Belships, which operates a fleet of supramax and ultramax bulk carriers, has positioned itself as a growth-oriented operator in the mid-size dry bulk segment. Myklebust's perspective carries weight given the company's active fleet expansion strategy and its exposure to a wide range of commodity trades. The Geneva Dry conference, scheduled for 2027, serves as one of the dry bulk industry's premier forums for senior executives, shipowners, charterers, and financiers to assess market conditions and strategic direction. Myklebust's participation signals continued engagement from leading Norwegian shipping interests in shaping the industry's outlook. His remarks serve as a timely reminder that long-term dry bulk fundamentals may be more resilient than near-term sentiment suggests, provided the industry broadens its analytical lens beyond China's immediate demand signals.