China which is second on the list of largest economies intersects supply chain restructuring, the US–China tech war and the domestic housing problem. While these challenges are present, the emergence of various surprises in the sea transport market particularly the jump of BDI adds more complications to the economic arena.
Maritime Market Anomalies
There is an abrupt rise in BDI levels as demand increases for iron ore and bigger ships, pushing it past its 18-month high. Looking at BACI and BPNI, there is a hardness to measure demand and supply on a scale as demand picks up, thus driving up rates.
China’s Iron Ore Resilience
The Chinese real estate and consumer sectors are subdued while their demand for iron ore continues. However, economic intelligence units have revised the earlier growth forecast for 2023 due to persisting challenges in the larger economic landscape despite an almost 20 per cent rise in iron ore importation to China during January-October 2023 compared to the same period in
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Source: Digitimes asia
