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Dry bulk rates stay high despite more vessels

Despite a significant net fleet growth in total tonnage, the dry bulk carriers have experienced a considerable surge in rates in the third quarter.

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In spite of a significant growth in the global dry bulk fleet during the third quarter among the larger vessel types, the rates remain high in a period characterized by considerable improvements.

Overall, Chinese demand for higher quality iron ore and coal, which the country – the dry bulk sector's main growth driver – is now stockpiling and which contributes to a fairly high rate level compared to the downturn in previous years, reports Platts.

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