Hiring a capesize bulk carrier on Wednesday would cost you over $7,000 per day more than it did 24 hours earlier, following the largest daily adjustment of the Baltic Capesize Index in 13 years.
Baltic Exchange panellists added $7,140 to their daily assessment of average capesize spot rates across five key routes (5TC) on Wednesday, the biggest single rise since 2010 and the biggest ever rise in the 5TC assessment since it superseded the previous index in 2014.
