Precious Shipping expects a volatile recovery for dry bulk
A delicate equilibrium means any ‘small change’ on either side of the supply and demand equation could lead to big variations in freight rates. If fleet and global economic growth predictions are accurate however, Precious sees a ‘reasonable year’ in 2021
The good news is several factors, including high newbuilding prices, have curbed owners’ interest in ordering new ships. Meanwhile, the acceleration of scrapping and slow steaming of ships burning low-sulphur fuel oil will help tighten supply and further brighten the outlook for next year
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