JOC Staff | Dec 05, 2012 2:41PM EST
China’s demand for iron ore and coal imports for its steel-making industry is expected to increase in 2013, according to Peter Sand, chief shipping analyst at shipping association BIMCO.
Chinese iron ore demand is expected to grow at a rate of 7.5 percent in 2013, up from 6.4 percent in 2012, driven primarily by the housing, infrastructure and machinery industries, Sand said.
Rising demand for iron ore and coal in turn increases the need for larger dry bulk vessels, which should ease pressure on ship owners and operators, he added.
