Spot rates for capesize bulkers should hit around $40,000 per day in July and stay there for three months amid a firm spot market sustained by strong fundamentals, experts said.
The capesize 5TC, a spot-rate average weighed across five routes, has already risen 48% since 8 June to $29,383 per day, according to the Baltic Exchange.
Forward freight agreement (FFA) rates for contracts in July, August and September landed within the $38,000-per-day range, despite losing ground on Monday.
