The capesize bulker spot market fell to its lowest level in a year-and-a-half on Thursday amid a weeks-long slide driven by Indonesia's coal ban and lower iron ore demand from China.
The Baltic Exchange's capesize 5TC, an average of spot rates across key routes, dropped 15% to $8,547 per day as it fell below $9,000 per day for the first time since early June 2020.
