April 2023

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30-April-2023

The Baltic Exchange’s Capesize 5TC increased 17.3% since 21 April 2023. The Baltic Exchange’s Capesize 5TC reached to $19,100 per day on Friday which is the highest point since surpassing $21,000 per day in December 2022. Notwithstanding the downtrend in iron ore prices, the Capesize 5TC of the Baltic Exchange witnessed an increment. The capesize charter rates have reached their peak for the year 2023, despite the decreasing prices of steel and iron ore. The Atlantic and Pacific basins have observed a surge in capesize fixture activity over the past week, as China prepares for Labour Day. Although the prices for iron ore and Chinese steel have experienced a continuous decline, the capesize bulk carrier market concluded the week on a highly positive note.