Capesize rates have risen strongly since August this year. The Baltic Capesize index has been in the doldrums for most of the year – averaging only just over $6,000 per day for the first six months of this year. July and August’s Baltic Capesize Index averages were both over $13,000 per day. But the big rise came in September, when the Baltic Capesize Average Index averaged over $30,000 per day.
China’s strong steel production sector resulted in a record import of 74.5M tons of ore in September, 8% higher than in August, and a 15% increase over last year. Continue reading