Capesize bulker rates have jumped to their highest level in 12 weeks as extreme weather hampered trade efficiency in Asia and Vale fixtures buoyed the Atlantic market.
The Baltic Exchange’s assessments for spot rates on five benchmarks rose to nearly $29,700 per day on Thursday, which marked an 8% single-day surge and was the highest level since early July.
Rates have been climbing since Friday’s reading of $26,800 per day.
