Shipping demand has recovered as the global economy has come through the worst of the downturn, the head of the world’s largest dry bulk ship operator said on Monday. The CEO of Cosco described the ups and downs in the Baltic Exchange’s main sea freight index, the Baltic Dry Index, as quite natural: “There is big demand. It’s normal in the short run to have challenges, up and down, up and down, but demand has recovered. … There is some overcapacity in containers, but relatively speaking, freight volumes are too low. We need the U.S. and Europe to buy more Chinese goods.”
