Atlantic bulker supply being soaked up as ships avoid Red Sea, says Braemar

Trading patterns for Canadian iron ore and US coal bound for Asia are changing as bulkers reroute to avoid the Red Sea, analysis shows.

Research by Braemar Shipbroking says that vessels carrying these cargoes from the North Atlantic have increasingly opted to make their way east via the Cape of Good Hope over the past four weeks, rather than via the Suez Canal and Red Sea as usual.