Dry bulk shipping's capesize sector continues to rise amid China's ongoing building boom, despite government plans to lower steel output for carbon-reduction goals.
On Monday, the capesize 5TC — a weighted average of spot rates on five key routes — gained 1.9% to $17,054 per day, maintaining its steady climb from $11,679 per day on 1 March.
Freight-forward agreement (FFA) rates for the asset class also improved on Monday and continue to show a strong forward curve for 2021, according to the Baltic Exchange.
