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Dry bulk hopes lift on China's import expectations
Investment bank JPMorgan Chase has predicted an average 10% market-wide lift in dry bulk rates on the back of expectations that Chinese demand for iron ore and coal imports will rise further.
Growth expectations for Chinese iron ore imports (Photo: Southern Cross Maritime)
The bank last week lifted its estimates for capesize rates from US$28,000 to US$32,000 per day.
Supramax rates are expected to increase from US$13,000 to US$14,000, while handymaxes will lift slightly to US$12,000.
Rates for panamax vessels are expected to hit US$16,000...
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