Almost half of the world's combined soy bean harvest comes from South America, and the South American soy bean farmers are currently preparing for an exceptionally good harvest. And the prospects of a solid harvest could help boost the dry bulk market, a development that makes bulk carriers prepare for the growing volumes.
"We're preparing for the harvest by keeping tonnage ready in places where we expect the market to grow, while also maintaining loading commitments in spots we predict might be more advantageous. It's still fairly normal for the second quarter on the Atlantic to be strong. Many players are positioning themselves according to this," says Copenship CEO Michael Fenger.