The capesize spot rally shows no signs of abating as rates witnessed a 90% week-on-week rise.
The average spot rate on the Baltic Exchange continued to climb at the beginning of this week, as it had ended the previous one.
It has cemented its three-month peak on Monday at $16,424 per day, up 8% from Friday.
Investment bank Jefferies said: “Capesize rates are starting this week on stronger footing, after ending last week strongly as well.
