Subscribe to RSS feedCapesize paper market jumps 25%
THE CAPESIZE market has sprung back to life on the back of a surge in iron ore demand from China. Capesize paper spiked 25% on May 27 as China’s relentless demand for iron ore shipments saw transatlantic spot rates from Brazil jump by more than US$10,000 in one day.
Rates at these levels are the highest in more than eight months, and propelled the Baltic Dry Index by 7.5% to 3,164 points.
The BDI has doubled in the last month and now stands almost six times higher than December’s ...
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