Shipping rates for vessels transporting commodities such as coal, iron ore and grains racked up impressive gains in the first quarter of 2016 after hitting record lows, but the rally could flatten out into the second half as the macroeconomic outlook remains uncertain, according to IHS Inc.

A robust demand for silicones in China, combined with an improving economy there, is driving market growth for these versatile polymers, which are increasingly vital to the construction, automotive, cosmetics and medical/pharmaceutical industries, says a new global market research report released by IHS.