Dry Bulk Market: Rates Skyrocket as Demand Picks Up

The dry bulk market is riding on a high as a result of demand picking up around the world. In its latest weekly report, Allied Shipbroking said that “a remarkable change has been witnessed of late in the dry bulk market, with demand ramping up significantly and boosting freight rates to levels not seen for some time now. However, the question holds to if the current demand trends will hold through during the rest of the year or if this is just a temporary peak. Given the most recent global developments, the worst impacts on trade as part of the global pandemic seem to have passed for now”.