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Dry-Bulk Ship Demand May Fall on Chinese New Year, Platou Says

Demand for ships that haul dry-bulk raw materials may continue to weaken because of the New Year in China, the world’s biggest importer of iron ore, according to RS Platou Markets AS.

“As Chinese New Year holidays start next week and traders and buyers are already pulling away from their desks, activity levels could further slump the next fortnight, with any marked return of activity only expected” after the celebrations, Rahul Kapoor, Singapore-based analyst for the investment bank, said in an e-mailed note today.

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