Freight rates across all segments of the dry bulk market remain low, but some indicators show that it's not all gloom and doom in some parts of the Asia Pacific region. India, which is the fastest-growing country in Asia on GDP terms, has defied expectations on thermal coal imports, shown remarkable growth in petcoke demand, and increased freight inquiries for wheat particularly from Australia.
If China got the dry bulk market out of the doldrums in 2005, is it India’s turn this time around?