“Enormous commodity trade growth” is on the cards for the dry bulk market which nonetheless is in for a “period of volatility” for over a year, according to ACM Shipping.
The London-based shipbroker also pointed to improving tanker markets as it unveiled a slightly reduced first-half profit due to start-up costs associated with its dry-bulk desk.
Johnny Plumbe-led ACM said that, while the global dry-bulk fleet is set to swell by 50% with the influx of newbuildings, “this will coincide with a massive expansion in raw material mining to feed the growing Indian and Chinese economies causing shifts in vessel trading patterns and the utilisation of the dry fleet”.
Tuesday’s
