Virus outbreak creates uncertainty in dry bulk

The coronavirus outbreak in China creates uncertainty in shipping – not least in dry bulk, which is already off to a difficult start in 2020. The situation has prolonged the Chinese New Year, and this can cause delays in the market, a brokerage firm tells ShippingWatch.

China is building a new hospital in Wuhan, where the coronavirus outbreak is centered. The latest numbers show that more than 4,000 are infected while 106 are reported dead. The photo is from Jan. 27, 2020. | Photo: Hector Retamal/AFP/Ritzau Scanpix

The outbreak of a coronavirus in China is a new unknown that adds pressure on shipping, and in particular dry bulk, which has already had a difficult start to 2020.

It was expected that spot rates would go down in the start of the year, where the Chinese New Year and the weeks ahead of it typically puts damper on demand and the rates.

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