Capesize rates have levelled off since Friday after three weeks of steady improvement amid higher Brazilian iron-ore exports, healthy Chinese demand for the commodity and tight vessel supply.
The time-charter equivalent (TCE) average skyrocketed 683% since 29 May to $25,280 per day on Thursday before edging up less than 0.5% to $25,364 per day by Monday, according to Baltic Exchange assessments.
