Silver lining ahead for dry bulkers

Dry-bulk vessel operator China COSCO Holdings Co yesterday said it expects to post better performance this year as global demand picks up and the industrial climate improves.

"This year would be better than last year," Zhang Liang, president of China COSCO, told Bloomberg yesterday. Zhang said he expects the dry-bulk business to surpass containers this year.

During the third quarter of last year, China COSCO saw its revenue drop 52.4 percent to 15.83 billion yuan, while the revenue from container shipping operations plunged 39.5 percent to 6.3 billion yuan.