The capeize bulker market may get a near-term lift after China implemented less restrictive Covid-19 rules in an effort to boost its struggling economy, according to a market expert.

The new policy will allow people with mild or no symptoms to isolate themselves at home and will let people travel within the country without taking tests, Reuters reported.

After announcement of the eased restrictions, the Baltic Exchange’s Capesize 5TC basket of spot-rate averages across five key routes jumped 6.2%