China’s demand for imports of iron ore and coal and a surge in US grain exports could be about to turbo charge the dry bulk market as it heads into the fourth quarter, says a top Greek shipbroker.
“The dry bulk market still seems to hold plenty of wind in its sails, something that could well translate into further improvements in the freight market over the coming weeks,” says George Lazaridis, head of market research at Allied Shipbroking.
He says the drive in seaborne trade of dry bulk commodities has helped boost the Baltic Dry Index (BDI) by over 70% from its low point in mid-July.
