Shipping drops on Chinese steel outlook, bad weather closing ports

Published: Thursday, 23 December 2010

Dry bulk rates slip on bearish CISA forecast, weather; ignores coal demand

The benchmark index for transporting dry bulk continued to slump this week, with bearish Chinese steel demand forecasts and bad weather closing ports in southern China and Australia, pulling down rates.  

This was despite low Chinese coal stockpiles at power stations, which is expected to put pressure on generators...

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