The demand for raw materials like coal, steel and copper has increased considerably since the turn of the millennium, especially in consequence of globalisation and the great demand for raw materials in China, owing to the economic growth in this large country. This means that the 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, bulk carrier orders declined over a short period, but are now picking up again. The optimum propeller speed is changing as well, steadily becoming lower, because the larger the propeller diameter that can be used for a ship, the actual propeller power and pertaining speed requirement will be correspondingly lower, and the lower the propulsion power demand per ton bulk transported.
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