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An EastGate report on September 30 says dry-bulk freight into Q4 is being driven by Chinese iron ore demand, with China's ore imports up 11% year on year in the first eight months. Capesize vessels have benefited most from this buying.
The report also notes that the coronavirus second wave adds uncertainty to shipping demand.
Strong Chinese raw-material demand supports dry-bulk rates, which feeds into ocean freight costs for grain and oilseed shippers.
marinelink.comEastGate ReportSep 30, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
