Spot rates for capesize bulkers surpassed the $35,000-per-day mark for the first time in two and a half months on Friday.
Brazilian miner Vale, a major charterer of capesizes, has meanwhile lowered its iron ore volume capacity for 2021 by 2%.
The capesize 5TC — the weighted average spot rate for five key routes — jumped 6.2% on Friday to $35,713 per day, according to assessments by Baltic Exchange panellists.
