Capesize bulker rates leapt for the second straight day on Wednesday, reaching their highest point in five months as China starts erecting buildings again.
The Baltic Exchange’s Capesize 5TC jumped 18.3% on Wednesday to nearly $23,200 per day, following an 8.2% leap on Tuesday.
The jump came as Clarksons Securities noted on Wednesday that Evergrande, China’s largest property developer, announced it had resumed work on 631 pre-sold and undelivered projects.
