Why were Capesize vessels built?

Capesize vessels were built to transport bulk commodities, such as iron ore and coal, over long distances, primarily between continents. Their large size allows them to carry significant quantities of cargo, which makes them economically efficient for shipping heavy goods. These ships cannot transit the Panama or Suez Canals due to their size, hence the name "Capesize," as they must navigate around the Cape of Good Hope or Cape Horn. Their design reflects the industry's need for larger vessels to meet increasing global demand for raw materials.