Dig for victory: why excavator sales in China may signal capesize rally – TradeWinds

Questions have been raised over how China’s economic slowdown will affect bulker markets, but clues can be found at JCB dealerships throughout the nation, according to research.

2022 was one of the worst years on record for Chinese economic growth. Gross domestic product grew by 3% year on year, missing China’s official target of around 5. 5%.

But could a rise in the sale associated with excavators within China during 2022 be a small sign of hope for import demand for raw materials and the services associated with bulk carriers? Research by Arrow Shipbroking Group says: quite possibly — and capesize bulkers will be the main beneficiary.