Average spot rates for the capesize bulker sector improved by more than a third over the past week after three weeks of steady declines as iron ore demand has improved from last year, according to a shipowner.
The Baltic Exchange’s Capesize 5TC set of spot-rate averages across five key routes gained 36% since last Friday to $12,560 per day on Friday, reversing a steady three-week decline in the capesize market.
