The spot market for capesize bulkers has declined steadily over the past two weeks, but that trend should reverse soon due to higher iron ore demand and Covid-19 lockdowns in China, market experts said.
The capesize 5TC, a spot rate average across five key routes, came in at $13,596 per day on Tuesday, falling 5.5% since Monday and 42% since 15 March, according to Baltic Exchange data.
