Maritime Industry Briefing: Dry Bulk Rates, China Corn Imports, UK Employment

## Dry Bulk Rates Slip Slightly According to Hellenic Shipping News, the Baltic Exchange's dry bulk index, which tracks rates for vessels transporting dry commodities, fell about 0.3% to 2,057 points on Thursday. This came after the index had risen roughly 2% in the prior session. The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, decreased as well. ## China's Corn Imports Shift from Brazil to U.S. Hellenic Shipping News also reported that Chinese corn imports declined to approximately 3.8 million metric tons in 2025, down from 8.4 million metric tons in 2024. Of this, around 2.5 million metric tons originated from Brazil (Panamax: ~2.0 million metric tons vs. 1.78 million metric tons in 2024), while imports from the U.S. totaled 169,000 metric tons (Panamax: ~153,000 metric tons vs. 1.36 million metric tons in 2024). This contraction aligns with China's efforts to reduce its reliance on imported corn. ## UK Employment Rises in February According to Hellenic Shipping News, the number of payrolled employees in the United Kingdom rose by 20,000, or 0.1%, to 30.3 million in February 2026, following a revised 6,000 increase in January. However, compared with the corresponding month a year ago, payrolled employment fell by 0.2%, or 49,000. The biggest drop was seen in the transportation and storage sector. ## Jones Act Waived Amid Iran Tensions The Trump administration has issued a 60-day waiver of the Jones Act, a White House official confirmed to Platts, as the administration attempts to combat rising energy prices and trade disruptions in the wake of the US-Israel war on Iran, as reported by Hellenic Shipping News. ## UK Targets Boosting Domestic Steel Production The UK government has set a higher target for the country to make half of the steel it uses and has announced higher taxes on buying steel from overseas, according to Hellenic Shipping News. Imported steel quotas will be lowered, and anything brought in above that level will be subject to a new 50% tariff, the business department said. The move is aimed at boosting domestic steel production and reducing reliance on imports.