Bloomberg News

Dry-Bulk Ship Demand May Fall on Chinese New Year, Platou Says

January 16, 2012

Jan. 16 (Bloomberg) -- Demand for ships that haul dry-bulk raw materials may continue to weaken because of the New Year in China, the world’s biggest importer of iron ore, according to RS Platou Markets AS.

“As Chinese New Year holidays start next week and traders and buyers are already pulling away from their desks, activity levels could further slump the next fortnight, with any marked return of activity only expected” after the celebrations, Rahul Kapoor, Singapore-based analyst for the investment bank, said in an e-mailed note today.

--Editors: Dan Weeks, Nicholas Larkin.

To contact the reporter on this story: Isaac Arnsdorf in London at iarnsdorf@bloomberg.net

To contact the editor responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net


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