Growing demand from the US Gulf and short tonnage lists have helped spot rates for supramax bulkers close to the 11-year high seen in late May.

Spot rates for supramax and ultramaxes rose again on Wednesday, making them the most expensive class of vessel to hire in the spot market, according to Baltic Exchange assessments.

The supramax 10TC — the weighted-average spot rate for 10 key routes — was assessed $329 higher by Baltic panellists at $27,593 per day on Wednesday.