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Chinese demand props up dry bulk markets

China’s appetite for raw materials benefited the dry bulk market in the third quarter of the year, according to Hong Kong-based owner and operator Pacific Basin. But, it is supply growth that needs to be curtailed for future firmer rates

Company’s chief executive Mats Berglund says any investments should be directed towards secondhand ships rather than the newbuilding market, so that fleet growth can drop and support freight rates in the years ahead

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