Chinese ore demand lifts Capesize rates – Genco Shipping

According to Mr John Wobensmith chief financial officer of Genco Shipping, an increase in Chinese iron ore demand has lifted Capesize rates off their recent lows and should help support dry bulk trade through the rest of the year. While Chinese ore purchases have not been on a large scale, it has provided enough leverage for the capsize market to recover from its lowest levels in over a year.