Decline in COVID-19 Restrictions to Revive Market Growth
Bulk operators are coping with low freight rates and caving demand amidst the ongoing COVID-19 crisis. China being one of the world’s biggest commodities importers had cut down on inbound cargoes of iron ore and coal in the first quarter. Thus, shipping companies in the liquid & bulk transportation vessels market are keeping commerce moving to revive market growth. They are expecting a recovery in freight rates by the end of the last quarter of 2020. However, operators are entering into the survival mode, since big exporters such as Brazil and Australia are experiencing a rise in COVID-19 cases.
The shutdown of automotive factories has added to the problems of vehicle carriers in the liquid &