Average spot rates may reach $14,500 per day in the fourth quarter, based on how they look on paper for that period, analyst says

The reeling capesize bulker market reached its lowest point since May 2020 on Friday after another week of spiralling downward, but China may have provided hope for some sort of turnaround.

The Baltic Exchange’s Capesize 5TC, a spot-rate average across five key routes, dropped 46% over the past week to $3,413 per day on Friday, marking the lowest figure in roughly 27 months.

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