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IHS Markit said the recent rally in capesize rates has been mainly driven by a robust demand recovery in iron ore from Brazil, Ukraine and Canada, and improving demand for Guinean bauxite and Indian coal. Photo: Taobao

Average capesize rates predicted to peak in October, before declining

IHS Markit says current rally in rates for large bulkers caused by short-term positional factors

8 October 2020 1:02 GMT Updated 8 October 2020 13:49 GMT

By Dale Wainwright

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

Bulkers

Average capesize rates predicted to peak in October, before declining