Breaking News :Bulk Shipping Rates Start to Recover as China Emerges From Virus

Bulk Shipping Rates Start to Recover as China Emerges From Virus. Freight rates for bulk commodities, which were torpedoed earlier this year as China’s economy took its initial hit from the pandemic and as iron ore cargo volumes fell, are showing signs of a recovery. The Baltic Exchange Capesize Index has risen for the past seven weeks as activity in Asia’s top economy improves, and iron ore volumes recover following seasonal bad weather that had crimped shipments from Australia and Brazil.

So Chinese steel stockpiles reached record highs amid the coronavirus outbreak, but are now steadily easing. This paints the picture of an increased construction activity and a growing seaborne demand for the key dry bulk commodity of iron ore.Demand returning to normal levels.