Average capesize freight rates on the Baltic Exchange's five major benchmarks (5TC) are forecast to peak at $27,650 per day in October before declining for the remainder of the year.
IHS Markit said its predictions, based on its new dry bulk freight rate forecast, indicate that the current market is driven by “short-term positional factors”.
At the start of October, the capesize time charter rate had already doubled to about $30,000 per day in just two weeks, according to Baltic Exchange.
