Demand for steel for property construction, infrastructure and machinery are set to drive China’s iron ore demand in 2013 with 7.5% growth compared to 6.4% this year, boosting demand for dry bulk shipping.
“As we are heading into 2013, iron ore demand from the world’s largest consumer, China, is likely to provide a solid lift in demand alongside coal imports in Asia,” said Peter Sand, chief shipping analyst for Bimco.
A record high since January 2011 of Chinese iron ore imports in September this year also indicates growing demand from China.
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