Strong harvest boosts Pacific Basin in third quarter

The bulk market has significantly improved this year since the rock-bottom rates in the first quarter, writes Pacific Basin in a market update. The Hong Kong-based bulk player beats the market in the third quarter, but is struggling to sell its tugs.

The crisis-struck bulk market is gradually seeing improvement, and the trend is particularly evident compared to the historically low market that characterized the first quarter this year.

This is first and foremost attributed to a seasonally strong US grain export combined with China's currently growing import of coal and iron ore, writes bulk carrier Pacific Basin in a market update.

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