Hardly gold dust
Published: Tuesday, 01 May 2007
Freight Market Report: NOT A REFERENCE to the extravagant rates in the freight market but at this time of the year huge swaths of yellow dust swirl from the deserts of Mongolia across northern China, down the Korean peninsula enveloping both south and north Korea; after a mild winter experts believe 2007 could be the worst on record. To address this China, Korea and Japan have been meeting to help Mongolia to create a green belt across the Gobi desert and are giving $1.2 m. to promote forestation. Now in the second quarter, Capesize Owners can look back to the start of the year with huge satisfaction: the BCI soared to over 8000 points an increase of 2000 since early January – owing to a 23.4% rise at 100.2mt in first quarter Chinese imports on 2006, and massive congestion.