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Cyclone Damien to add to dry bulk market woes

A tropical low tracking towards the coast of Western Australia has prompted evacuations at Port Dampier with other ports in the region clearing vessels. The cyclone has buried any lingering hopes of improving rates for the dry bulk market held over from the beginning of the year

The upgraded category of the cyclone makes it comparable to Cyclone Veronica, which severely hit the dry bulk market last year

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