The demand for raw materials like coal, steel and copper has increased considerably since the turn of the millennium, especially due to globalisation and China's economic growth. This means that Chinese industry, among others, is absorbing large quantities of iron ore and other bulk cargoes. The bulk carrier market, therefore, is very attractive, which caused a boost in newbuildings until the latest economic crisis in 2008. Since then, bulkcarrier orders had been declining, but are picking up again. Today, bulk carriers comprise about 43% of the world fleet in tonnage terms.
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