These cargo ships are categorised based on either dimension limitation or operational mechanism.

Dimensional limitation includes whether the ship can be passed through some busy passages, straits, canals, bridges, locks etc.

The operational of the shipping side covers aspects such as rate-setting mechanisms, cargo batch sizes, or type/rang of service.

Handysize ships

These ships can carry around 1500 – 35,000 deadweight tonnes and account for around 34% of the total global dry fleet market.

Capesize ships

Capesize vessels are usually dry bulk carriers which are too large to go through the Suez or Panama canals. As a result, they need to go around the southern tip of Africa (Cape of Good Hope) or South America (Cape Horn).

Capesize is usually 80,000-160,000 deadweight tonnes and can be even larger. These vessels are used for shipping iron ore and coal. These ships account for around 10% of the global dry fleet.

Panamax ships

Panamax cargo ships are the largest vessels which are able to pass through the Panama Canal. These ships are usually about 65,000 deadweight tonnes. These ships account for around 19% of the global dry fleet.

Handymax ships

Handymax vessels are also called Supermax ships and are commonly used for shipping dry bulk cargoes like steel. These are in the range of 35,000-60,000 deadweight tonnes and are installed with on-board cranes. These ships account for around 37% of the global dry fleet.