Subscribe to RSS feedNewbulker ‘deluge’ to counter congestion
by
Michelle Wiese Bockmann
—
last modified
Jul 16, 2009 05:47 PM
OWNERS of dry bulk tonnage hope chronic delays at ports in China and Australia will continue to prop up freight rates, as a “deluge” of new ships is delivered from yards this quarter.
Although Chinese port congestion has eased from records set two weeks ago, it remains a central driver of spot rates, especially for capesize and panamax vessels.
Port infrastructure has failed to cope with China’s unexpected demand spike for coal...
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