Capesize rates charge past $40,000 a day as tonnage tightens across basins

The capesize market is ending the year with a burst of momentum rarely seen outside cyclical peaks, as tightening tonnage and strengthening long-haul trade routes drive spot rates to their highest levels in two years. Spot rates leapt by more than $6,000 yesterday to approach the $45,000 mark.  Despite softness in global steel markets – …

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