Chinese grain demand offers ‘significant boost’ to panamax earnings
The pressure for grains remains solid, with the Chinese appetite unlikely to vanish anytime soon. This is likely to provide healthy seaborne volumes for bulkers, especially panamaxes, boosting freight rates
The strong container shipping sector will drive many agricultural consignments to the dry bulk segment because of equipment shortages and high freight rates, according to Ocean Analytics founder Ulf Bergman
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The new company is said to have already ordered several newcastlemaxes from New Times Shipbuilding in China to be delivered in 2023
Toronto-listed Algoma said the new class vessel’s design will build on the original Equinox Class standards to offer ‘increased deadweight capacity, better fuel efficiency and improved speed at lesser engine power’
In the longer term, the Chinese economy will be increasingly driven by advanced technology and less by building and construction activity in the coming years, according to a Danish Ship Finance quarterly report. This will reduce the Chinese economy’s requirement for steel, hampering demand growth for iron ore and putting pressure on the capesize fleet
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