Follow cnbc international on twitter and facebook. Com shares tomohiro ohsumi | bloomberg | getty images) the shipping industry is on course for consolidation as it moves off three-decade lows, the president of drybulk shipper genco said on wednesday shipment consoildating software. Playingshipping consolidation ahead as industry sails on from three decade lows updated 3:15 am et thu, 9 march 2017 cnbc. Last year we probably saw the low and it was a 30-year low in terms of freight rates and asset values and now we re starting to see just the very beginning of a recovery, wobensmith said. Anticipating a cyclical recovery to kick in at the end of this year, president john wobensmith told cnbc s squawk box that a pullback in shipping supply is the main driver of the benchmark baltic dry index s recovery of more than 7 percent this year.
Show chapters demand dynamics have also been a critical factor with chinese demand for iron ore to support its steel industry ramping up again after a sharp downturn that reached its nadir just over a year ago. Download the latest flash player and try again. The index, which assesses the price of moving the major raw materials by sea, hit its lowest level ever of $290 during 2016 before resuming a bumpy journey higher towards its current price of just about $1,000.free asian web cam chat no sign up.. .Sex chat free no sigh up or registrations.
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