The dry bulk market has picked up in September, rebounding from steady falls during the latter half of July and all of August, as China signals a resumption of new construction and a global energy shortage boosts coal demand.

The need for coal particularly should keep rates from falling further and may support the entire sector for years to come, while China’s return to building should further support dry bulk shipping, according to analysts.

“Spot rates have declined from their previous highs, though appear to have found a bottom and look to be seeing some support in the near-term,” Jefferies analyst Omar Nokta wrote in a note earlioer this week.