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Less congestion makes dry bulk rates decline

Port congestion has eased, leading to a decrease in dry bulk rates. According to Clarksons, the development is not least due to low industrial production in China following Covid lockdowns.

Photo: PR / J. Lauritzen

The dry bulk market is affected by reduced congestion at ports, writes Clarksons Platou Securities in its weekly update on shipping.

Spot rates for the capesize segment dived by 32% last week to approx. USD 11,700 per day, and rates for the panamax and supramax segments have fallen markedly as well.

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