Multiple macro-economic headwinds have led Seaport Global to dial down its dry cargo rate forecasts for 2019.
Increased trade tensions, a slowdown in China and Beijing’s restrictions on coal imports are denting demand in the sector, at a time IMO 2020 rules are expected to help boost scrapping of older ships, says analyst Magnus Fyhr.
“While trade tension is likely to continue to weigh on the Chinese economy, we believe the slowdown in domestic demand will be gradual and could potentially be offset by another round of infrastructure...
