Spot rates for capesize bulkers rose yet again on Monday, gaining 10 out of the last 13 trading days following the first week of September.
The capesize 5TC, a spot-rate average weighted across five key routes, improved 2.8% to $63,030 per day from Friday, marking a 56% leap since 8 September.
Strong demand for iron ore and low vessel supply should keep rates moving higher, despite fears that Chinese property developer Evergrande could default on its debt and worries that China's plans to curb steel output, according to market experts.
