According to Ospredt, an analyst at Norwegian Arctic Securities, Oslo said that since July and August, Chinese traders have been accelerating the purchase of iron ore. In August alone, the import volume reached 51.3 million tons, an increase of 8.7% from July. At this stage of the ship's rent “fell more than more,†Chinese buyers’ demand for iron ore will increase, which will help shipowners to spend more than twice the actual supply of seaborne vessels.
The Baltic dry bulk freight index rose to 2,741 yesterday. The current high rent is mainly due to rising demand for iron ore, coal, and grain. According to the assessment of London Clarkson Shipping Consulting, the global dry bulk fleet capacity increased by 14% in August from the same period last year to 500 million tons. It is expected that the total volume of seaborne trade will increase by 7.6% this year.
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