Bulk freight rates on most trade routes declined in the first quarter of 2014 as the capacity crunch of the previous quarter petered out, according to the latest issue of Dry Bulk Forecaster from Drewry Maritime Research. Rates had surged in the fourth quarter of 2013 in spite of modest demand, the publication reports, due to a tonnage supply crisis triggered by the bankruptcy-related issues of some dry bulk ship owners, who have struggled due to prolonged low earnings over the past few years.
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