Spot rates for capesize bulkers are at a multi-year high thanks to the ongoing demand for iron ore in China and tighter Atlantic markets as seasonal coal demand picks up.
The Baltic Exchange assessed the average of capesize rates at just over $30,000 per day on Monday, the highest level since 2014.
Berge Bulk pushed the market into the new territory with a hire of the 179200-dwt Xin Chang Hai (built 2017 ) at $29,500 per day.
