Capesize rates should keep rising after last week's surge amid China's continued demand for iron ore and tight vessel supply, analysts say.
Average time-charter equivalent (TCE) rates for the large bulkers leapt 53.4% last week to about $24,200 per day on Friday, according to the Baltic Exchange's 5TC assessment.
The return of capesize TCE rates to that level puts the asset class in a "very profitable" position, since the vessels break even at around $15,000 per day, Jefferies analyst Randy Giveans said.
