Capesize bulker rates have jumped significantly as Australian iron-ore mines ramp up production amid Covid-19 disruption to Brazil volumes.
The Baltic Exchange Capesize Index has leapt 113% Wednesday to 356 points, punctuating a robust gain since Thursday from 27 points.
The weighted time-charter equivalent (TCE) average gained 25% Wednesday to $5,267 per day, according to Baltic Exchange assessments. The TCE rate was $3,228 per day on Thursday.
