"We haven't been affected much by that even though the Chinese have stopped buying ore at the moment because of higher inventories," Chief Executive Herman Billung told Reuters.
An influx of newbuilds in the market has driven down the Baltic Dry freight rate index in the past year, but rates are improving and the index is up 74 percent to 1,817 points since it bottomed out in February.
"I am still of the opinion that dry bulk market doesn't have a demand problem, but rathet a supply problem," Billung said. (Reuters)
