The dry bulk spot rates continue their momentum on Monday after China announced a target gross domestic product (GDP) growth of 5% for this year.
The Baltic Exchange’s Capesize 5TC basket of spot-rate averages across five key routes jumped 11.3% on Monday to $11,026 per day to cross the $10,000 for the first time since mid-January.
The C10 roundtrip voyage from Australia to China had the biggest leap among benchmark routes on Monday as it shot up 14.9%
