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.
More from ShippingWatch
Nuclear developer Seaborg recruits Maersk Drilling's strategy and business finance chief, Dominic Charnock, who served at Maersk since 2017, most recently as vice president. The new employer has the potential to help mitigate climate change and provide "energy fairness", says the newly appointed CFO.