Dry-Bulk Shipping Seen by Jefferies on ‘Cusp’ of Recovery
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Stronger demand for iron ore and coal shipped by sea, led by record monthly steel production in China amid slowing fleet growth, is poised to end a downturn in dry-bulk shipping, said Jefferies Group Inc.
“The dry-bulk shipping market could very well be on the cusp of a sustained, cyclical recovery,” the New York-based investment bank said in a quarterly report e-mailed today.