Dry Bulk
Amid a gloomy year for dry bulk overall, one bright spot has been China’s imports of soybeans, which have exceeded all expectations and helped prop up earnings for mid-sized vessels.
This year, China looks set to import around 100m tons of soybeans, and next year imports could be just as high, or even increased, analysts at Lorentzen & Stemoco suggested.
China accounts for 65% of the world’s soybeans trade and processes over 80% of its imported soybeans into animal fee...