Capesizes enjoyed their best earnings week in months, having improved steadily since Easter Monday on hopes of a rebounding Chinese economy.
The asset class' weighted timecharter equivalent (TCE) average across five routes gained 25% to $9,875 per day on Friday as the China Iron and Steel Association forecasts iron-ore imports to jump by 40m to 90m tonnes this year.
"In comparison, imports grew last year by only 6m tonnes," Clarksons Platou Securities managing director of research Frode Morkedal wrote in a note Friday.
