China's dry-bulk shipping industry will likely see a surge in bankruptcies this year as freight rates hit record lows and the country's demand for imports wanes. A number of firms have already gone bust over the past year as the industry grapples with the worst downturn on record due to stalling demand for iron ore and coal from China and a global surplus of vessels. With benchmark freight rates now at an all-time low, finances will be further stretched for shippers.
