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Commodity shippers face painful year ahead

Dec 29, 2015 at 10:10 AM CST

London – Shipping companies that transport commodities such as coal, iron ore and grain face a painful year ahead, with only the strongest expected to weather a deepening crisis caused by tepid demand and a surplus of vessels for hire.

The predicament facing firms that ship commodities in large unpackaged amounts – known as dry bulk – is partly the result of slower coal and iron ore demand from leading global importer China in the second half of 2015.

The Baltic Exchange’s main sea freight index – which tracks rates for ships carrying dry bulk commodities – plunged to an all-time low this month.

Read more at http://www.mb.com.ph/commodity-shippers-face-painful-year-ahead/#42PpS3bgl6uds4iL.99