Dry Bulk

摘要

Amid the resurgence of Covid cases, port congestion in China has been increasing. Consequently, vessel availability will be limited in September, strengthening charter rates. Last month, China restricted the discharge of cargo at several ports, which further increased the congestion. Moreover, due to the unprecedented rates of containers, some container cargo has been diverting to dry bulk vessels. Reportedly, some shippers have hired bulk carriers to carry containers, in turn, fuelling the positive market sentiments for dry bulk vessel demand. Congestion is expected to rise in the Black Sea region and Turkish Straits as construction activities at Canakkale could lead to periodical closure of transit, thereby increasing waiting time for vessels.