Rio Tinto has demonstrated the reason for the current strength in the capesize and panamax bulker markets.
The global mining giant’s third quarter results underlined the surge in Chinese demand.
During the quarter, the Baltic Exchange's average capesize time-charter rate for the four major routes rose from $8,000 to more than $30,000 per day.
The iron ore route from West Australia to Qingdao rose from $7.50
