Shipowners: Chinese grain demand leads to rate hike

Several Asian dry bulk carriers expect a rate hike for bulk ships, starting now and last to the next few months, as Pakistan and especially China are increasing their grain imports.

China and Pakistan's growing demand for grain is expected to push the rates up for, in particular, dry bulk ships, according to carriers' expectations as stated in a survey performed by news agency Reuters on Monday.

"We expect this to have a positive effect on the rates," says Mats Berglund, CEO of Hong Kong-based Pacific Basin.

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