Good and bad news for bulk carrier owners
Freight rates set to rise with global economic recovery; insurer warns of poor quality work on newbuilds
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BULK carrier owners have been struggling against a very poor market for nearly two years but, it seems, there is good news. Better times are said to be on the way.
Freight rates are set to rise across all dry bulk carrier segments as the global economic recovery gains momentum, ending the sector's most bearish run since the start of the economic crisis in 2008/2009. according to the latest edition of UK-based Newport Shipping's Dry Bulk Market Outlook.
It says that growth of seaborne trade in bulk commodities is expected to pick up to almost 9 per cent this year, after which it will ease off to an annual rate of about 7 per cent.
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