After a deeply disappointing 1H14 for dry bulk spot rates, demand from the Americas is widely expected to rescue the market during the back half of the year. Cargo should be concurrently driven by three sources: Brazilian iron ore exports, grain exports from South America, and grain exports from North America. The Baltic Dry Index increased by 79% in 2H13 against 2H12 but lost 60% of its value between January and late June 2014.
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