
The Chinese government has performed three devaluations in a row of about 10 percent of the Chinese currency Yuan. This happens in the midst of growing concerns about whether the Chinese growth engine can keep up steam.
Intuitively, many people may think that this will put even more pressure on the struggling dry bulk industry as well as on tanker. A devaluation would typically entail increased exports out of China while imports into the country would slow down, because it would be more expensive to import commodities such as coal, crude oil and iron ore - all commodities of which China is a major consumer.
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