Dry bulk tonne-mile demand falls as Argentine grains miss the boat
Tonne-mile demand for the dry bulk segment might take a hit as the wheat and barley export intensity from Argentina is running at half steam. Australia is poised to become the largest exporter of grains to the Pacific for the first time in three annual export seasons, to the detriment of tonne-mile demand
Pacific demand for Argentine wheat has dropped as Asian grain buyers shift to abundant Australian produce. In the first two months of the current export season, loadings from the South American nation only reached 3m tonnes, half as much as a year ago