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Capesizes climb as typhoon impacts capacity

Typhoon Chanthu has been blamed for tightening capesize capacity especially on the Australia-China route, forcing the BCI up to its highest since 2009

Increased congestion is playing a significant part in daily spot rates shooting up to beyond the $53,000 mark on the Baltic Exchange, a new high for the 180,000 dwt assessment, from the $40,000 range a week ago

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