The orderbook currently stands at the lowest level in decades. This fact gives rise to optimism at dry bulk carrier Pacific Basin, which also reports a strong start to 2021 in its annual report published Thursday.
"Global economic recovery is already benefiting the dry bulk freight market in 2021 which has got off to a significantly stronger start than usual at this time of year. The stronger market rates are driven by a broad-based demand recovery for dry bulk commodities with especially strong Chinese demand and global grain trades," writes Pacific Basin in its annual report.
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