Capesize spot rates to reach $17,493 per day

Capesize spot rates  reach $17,493 per day on Tuesday on the back of strong Chinese demand.

Chinese hunger for iron ore has lifted capesize rates to a 5 month high. Increased chartering interest from China has helped deplete the supply of vessels in the market. 30 vessels were chartered in the spot market last week to take iron ore to China.