Jan. 4, 2016—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.
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