Dry bulk shipping still ‘gloomy’

By Wayne Yamada
Published: Thursday, 03 November 2016

Despite a rise in freight rates, conditions for shipowners are still tough with demolition rates slowing.

The dry bulk shipping market is recovering due to stronger-than-expected growth in mineral demand, but slowing vessel demolition rates is still a concern for the industry.

The year started strong for scrapping older dry bulk ships, which is needed to reduce the oversupply in the market, according to shipping association...

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