Clarksons Platou: Iron ore drives improved bulk rates

An unusually massive transport of iron ore these days is the main driver behind the surprising and significant rate improvement in the otherwise struggling dry bulk market, notes Clarksons Platou in an analysis that points to positive signs in the market going forward.

Unusual improvements in the dry bulk market have emerged as a positive surprise this summer, more specifically in July, where the rates increased significantly after hovering at historically low levels for months.

The major Capesize vessels have been a key driving force pushing the Baltic Dry Index up, to now more than 1,200 points, and a new analysis by Clarksons Platou points to iron ore transport as the reason for the renewed optimism in the market.

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