An oversupply of ships in the dry-bulk market is set to worsen following an influx of Chinese coastal vessels now vying for business in the international trade.
Shipping players say the bulker sector, which is already under pressure from low freight rates due to excess supply of tonnage, is bracing itself for a further downturn.
TradeWinds understands that reduced demand for domestic coal has led China to experience an oversupply of bulker tonnage.
“The
