Owners and operators of mid-size bulkers are taking advantage of rising backhaul rates as the conflict in Ukraine continues to play havoc with the global trading of grain and coal.
Ukraine’s grain exports have ceased since Russia invaded the country in late February, while dozens of countries are boycotting Russian coal in protest of the unprovoked, brutal attack.
This has forced importers from Europe and elsewhere to get these commodities from countries that are much farther away, such as China, Indonesia and the Americas.
