Spot rates for capesize bulkers have reached their highest point in three months as fixtures for iron ore deliveries from Brazil to China escalate amid tightening supply.
The capesize 5TC, a spot-rate average weighted across five key routes, jumped 5.1% on Thursday to $38,217 per day, according to the Baltic Exchange.
Higher rates for the benchmark Brazil-China round voyage provided the greatest support, leaping 6.5%
