Chinese bulker buyers are stocking up on tonnage ahead of the commissioning this year of Simandou in Guinea, which will mine the world’s largest untapped iron ore deposits.
That is the opinion of executives at Oslo-listed newcastlemax owner Himalaya Shipping.
Himalaya has noted a steady increase in Chinese buyers picking up secondhand newcastlemaxes and capesizes, chief commercial officer Lars-Christian Svensen said on Thursday during the fourth-quarter earnings call.
