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Bulk carriers shrug off Shanghai

The coming months look promising for dry bulk

The bulk carrier freight market has shrugged off China’s lockdowns in May. China’s iron ore imports continued to lag their year-ago numbers, reaching an estimated 90.3m tonnes in April after 87.7m tonnes in March and 85m tonnes in January, according to bulk cargo tracking outfit Oceanbolt. For reference, volumes in February to April 2021 were 88.3m, 97.5m and 91.8m tonnes. May’s imports could turn out to be higher on two pieces of evidence. First, estimated imports were already 61.2m tonnes for...

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