Spot rates for capesize bulkers have broken yet another threshold unseen since 2008 in a runaway market that shows no signs of slowing down.
The capesize 5TC, a spot-rate average weighted across five routes, jumped 5% on Tuesday to reach $80,877 per day, according to Baltic Exchange data.
The last time this rate surpassed $80,000 per day was on 5 September 2008 when it attained $81,362 per day but slid to under $2,400 per day just three months later.
