Danish bulker operator Ultrabulk says the war in Ukraine is pushing up demand for ships as commodity users stock up on materials.
The company reported record earnings for 2021 on Tuesday and forecast that market fundamentals for dry bulk remain strong due to a low orderbook and positive economic conditions.
Ultrabulk chief operating officer Hans-Christian Olesen told TradeWinds that consumption of raw materials and grain are not likely to fall in the immediate future amidst a rush toward “commodity grabbing”.
