The market is showing no signs of easing as rates continued to ascend this week reaching record highs for the 5TC average at $40,608, reports Baltic Exchange.
Capesize
To be reminded of when these levels were last reached, the Capesize market traded under the 4TC routes and it was late Q3 2013. This week a stronger lift was realised from the trans Pacific C10 moving up $7,988 to $40,692, while the trans Atlantic C8 remains the premium-paying basin gaining $5,150 to $42,600. With relatively...