The average spot rate for capesize bulkers has marked its third straight day of gains, returning the market to heights not seen since October.
The capesize 5TC, a spot-rate average weighted across five key routes, improved 18.7% since last Thursday to $37,181 per day on Tuesday, according to Baltic Exchange data.
"On the last day of November, both BCI [Baltic Capesize Index] and 5TC recorded the highest value of the month and recovered back to the level last seen in end October, at 4,483 points and $37,181 respectively today," the Baltic Exchange said in its daily report on dry bulk shipping.
