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Chinese holiday slows capesize activity.
(From Lloyds List)
Dry Trade
THE bank holidays that punctuate this week for the Chinese, on Wednesday and today, prior to next week's long holidays on the mainland, has actually stunted capesize activity, writes Sam Chambers in Hong Kong.
This has surprised many brokers who had been expecting five days of frenzied activity as was seen this time last year.
'The Chinese wound down all week, with the steel mills not demanding so much ore,' said one broker who, as a sign of the lessened business, was watching the Simpsons when Lloyd's List called.
However, a pick-up on Thursday ensured that rates did not end the week too far down from last week.
...
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