Trading giant Cargill sees upside potential later this year in the depressed dry bulk shipping markets in expectation of a recovery in Brazilian and Australian iron-ore exports and a US-China trade agreement.
Weather and industrial incidents, coupled with trade and geopolitical tension, have pushed spot earnings for bulkers below $10,000 per day this year across the vessel classes.
For much of the past month, capesizes were even earning less than panamax, supramax and handysize ships.
