Capesize bulker spot rates jumped on Tuesday to reach a new four-month high as China’s demand for iron ore and coal remained robust.
The Baltic Exchange’s Capesize 5TC basket of spot rate averages across five key routes jumped 11.4% on Tuesday to nearly $19,900 per day to mark its highest level since mid-June.
The benchmark iron ore routes to China did the most on Tuesday to propel the 5TC, according to the exchange.
