Freight shipping oversupply squeezes rates

Making forecasts about dry bulk ocean freight rates have always been a tricky business. This is because forecasters have to consider diverse factors.
Among other things, how the economies in different parts of the world would behave, and the expected growth in seaborne trade of coal and iron ore, constituting nearly 60 per cent of dry bulk cargoes. Also, global movement in food articles.
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Source: Business Standard