China Shipping plans to buy dry-bulk ships for ore cargoes

China Shipping Group Co., the nation’s second-largest sea-freight company, plans to buy “quite a few” dry-bulk ships this year on rising demand in Asia for shipments of iron ore and coal. “The shipping market has bottomed out from its worst period,” Li Shaode, the group’s president, said Wednesday in Beijing, where he was attending a meeting of policy-makers.