[Ferro-alloys.com] On a trade forum in China recently, experts disclosed dry & bulk cargo seaborne demand was still strong and it would maintain annual growth of 6% in the next five years.
It was analyzed that iron ore demand was the dominant push of future dry & bulk cargo trade. China’s iron ore trade accounted for more than 70% of global market and this proportion would continue to rise in the future.
In the past five years, oil price was high but seaborne freight was low, so shipping companies had to slow speed of ships, which relieved 12% of excessive shipping capacity. Current capacity could meet the need of seaborne demand growth.
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