Norden expects the strong first quarter demand growth seen in the dry cargo market to cool during 2017 with the hype expected to be removed from asset prices.
Chief executive Jan Rindbo says a sharp upturn in Chinese iron ore and coal imports drove bulker rates up faster than expected in the first three months of 2017.
“I would be surprised if they [China] can sustain these growth rates for the rest of the year,” Rindbo told TradeWinds in a post results interview today.
