Spot rates for capesize bulkers continue to reach new heights as demand for iron ore and coal put a huge strain on the commodities supply chain, market experts said.
The capesize 5TC, a spot-rate average weighted across five key routes, logged a one-week gain of 23% to reach $75,190 per day on Friday, according to Baltic Exchange data.
"The more one looks at the current situation in shipping, the more it seems like a bigger issue than just dry bulk supply and demand," John Kartsonas, founder of asset-management firm Breakwave Advisors, told TradeWinds.
