Summary:
July was another good month for Dry Bulk trade. The BDI peaked at 1894 on 3rd July which was the highest reading this year thus far. Compared to July last year trade was down only 2%, which is quite astonishing considering the Coronavirus devastation. The downside mainly comes from coal trade falling 10%. However, construction and agriculture trade were much higher. This proves the diversity in dry bulk trade is a blessing.
China’s imports of iron ore are doing remarkably well in July, accumulating just over 100 million tonnes. Vale, the main exporter in Brazil, recorded their best month exports this year rising to 34 million tonnes from the low point of 20 in March.