Higher Chinese corn imports boost panamax bulkers
Record corn shipments to China, which is likely to overtake Japan as the largest importer, are buoying the panamax bulker market. Apart from the US, shipments have also surged from other exporters such as Ukraine, Argentina and Brazil, boosting tonne-mile demand for the segment
Beijing is importing huge quantities of corn to meet its animal feed demand as stockpiles in the country dwindle. US corn producers have been the main beneficiaries of China’s appetite for corn imports
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