Capesize spot rate rises are not matching increases in demand as caution remains over China’s rebound, shipowners organisation Bimco believes.
Analyst Filipe Gouveia said that during the first five months of 2023, demand for the large bulkers increased 5% year on year and vessel supply was up only 3%.
“Nonetheless, spot rate increases remain hesitant, largely due to concerns over China’s fragile economic recovery,” he added.
