BRICS Expansion Fuels Deeper South-South Trade: What’s Next for the Used Vessel Market?

September 15, 2026

The 18th BRICS Leaders’ Summit concluded in New Delhi, India. Centered on the theme of Building Resilience, Innovation, Cooperation and Sustainability, this summit marked a milestone meeting following BRICS expansion. The leaders adopted the New Delhi Declaration, finalizing multiple frameworks for economic and trade cooperation, financial coordination and cross-border connectivity. It was formally announced: China will take over the BRICS presidency and host the 19th BRICS Leaders’ Summit, ushering in the third golden decade of BRICS cooperation.

1. Core Outcomes, Policies and Action Roadmap from the Summit

Continuing its three-pillar cooperation framework covering economy & finance, politics & security, and people-to-people exchanges, BRICS prioritized practical trade and industrial initiatives:

Trade and investment facilitation: BRICS members uphold the multilateral trading system and oppose trade protectionism. Progress is being made on mutual customs recognition and simplified cross-border clearance to boost trade in commodities, energy and grain among BRICS members and BRICS+ partner nations. The summit highlighted stronger port and logistics connectivity to build more resilient regional supply chains and cut cross-border logistics costs for Global South economies.
Expanded financial architecture: The New Development Bank continues financing infrastructure and port projects across emerging markets. Greater adoption of local currency settlement reduces exposure to USD exchange-rate volatility, delivers more stable payment channels for cross-border commodity trades and lowers financing barriers for developing economies.
Industrial collaboration and green shipping initiatives: Joint efforts will advance digital industries and smart manufacturing. Members also encourage maritime decarbonisation and low-carbon vessel technology coordination, alongside alignment on shipping emission standards. China put forward five major cooperation proposals spanning artificial intelligence, digital industries and talent development, accelerating industrialisation and infrastructure upgrades across the Global South.
Wider BRICS+ partnership network: BRICS remains open to welcoming more Global South countries into cooperation, strengthening trade links between resource-rich and manufacturing nations in Asia, Africa and Latin America, and streamlining cross-border supply chains for grain, minerals and energy.

2. Impacts on Global South Nations

BRICS stands as one of the most important cooperation platforms for the Global South, representing nearly half of the global population and roughly 30% of world GDP. Outcomes from this summit empower developing countries across trade, finance and infrastructure:

Diversified trade channels. Global South economies are less reliant on traditional Western trade corridors. Expanded trade volumes for commodities, agricultural goods and manufactured products within BRICS create diversified export markets and offset risks of weak external demand.
Broader sources of infrastructure funding. The New Development Bank keeps disbursing loans for ports, highways and railways. Many emerging markets are launching port expansion and inland logistics hub projects to lift import and export volumes.
Buffers against financial risks. Wider use of local currency settlement helps resource exporters and manufacturing nations mitigate USD currency shocks, cut cross-border transaction fees and sanctions risks, and stabilise order forecasts.

Over the long run, rising trade volumes across the Global South will lift seaborne cargo flows and reshape global shipping patterns. More cargo will circulate between Asia, Africa and Latin America, raising demand for transoceanic bulk trades and regional feeder routes.

3. Implications for the Shipping Market & Second-Hand Vessel Trading

Expanding trade within the Global South will gradually lift vessel demand and reshape supply-demand fundamentals in the second-hand ship market, a top concern for international second-hand vessel buyers.

Cargo flow restructuring lifts demand for bulk carriers and oil tankers Growth in intra-BRICS trade for grain, ores and energy will boost demand for transoceanic dry bulk and oil transportation. Rising export volumes from resource-rich nations in Africa, Southeast Asia and South America will generate more chartering activity. Shipowners in emerging markets show stronger appetite for fleet expansion, driving more inquiries for second-hand bulk carriers, small oil tankers and multi-purpose vessels, especially moderately aged, cost-effective tonnage compatible with port constraints across the Global South.
Port infrastructure boom fuels demand for feeder ships and barges Many Global South countries are upgrading ports and coastal/inland waterway logistics, pushing up demand for small container feeder vessels, AHTS and port support craft. With constrained capital budgets, most emerging-market shipowners prefer affordable second-hand tonnage over expensive newbuilds, boosting cross-border second-hand vessel transactions.
Optimised settlement rules lower barriers for cross-border second-hand ship deals BRICS local currency settlement mechanisms ease USD liquidity shortages facing many buyers in Indonesia, Africa and the Middle East. Previously, many buyers struggled to secure hard currency for large vessel purchase payments. Diversified settlement channels can lift closing rates for second-hand ship contracts and reduce counterparty payment risks.
Green emission rules create market divergence Maritime decarbonisation cooperation endorsed at the summit will accelerate the phase-out of old, high-emission vessels over time. Valuations of heavily polluting aged tonnage will face downward pressure, while second-hand vessels fitted with BWTS, IGS and valid class society certificates will command premium pricing. For second-hand ship buyers, valid certificates and vessel modification status will become core evaluation criteria during transactions.

4. China to Host Next BRICS Summit with Deeper Maritime Cooperation

With China taking the BRICS presidency, the next summit is expected to further prioritise South-South connectivity, port logistics, green shipping and trade facilitation. As a global hub for shipbuilding and shipping supply chains, China will help roll out more port and maritime projects, strengthening economic and trade links along Asia-Africa and Asia-Latin America lanes.

For the global second-hand vessel market, this signals an expanding pool of buyers from emerging Global South economies over the next 2–3 years, sustaining active cross-border second-hand ship trading. Shipowners and vessel traders should focus on fleet procurement demand from Southeast Asia, South Asia and East Africa, and pre-match second-hand tonnage complying with local age limits, port entry requirements and maritime certification standards.

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（Key words: BRICS summit, second-hand vessel trading, shipping market, BRICS New Delhi Summit, Global South, maritime trade, bulk carriers, oil tankers, feeder ships, AHTS, local currency settlement, New Development Bank, green shipping, maritime decarbonisation）