Income is up 180% in June as average rates climbedto $14,500 daily today.
Greg Lewis, an analyst at Credit Suisse, said in areport: “While the marketremains weak – all asset classes (capes have been the laggard) are now earningin excess of their daily operating cash break even costs – first time for capessince late last year.”
Today marks the 16 successive daily climbin the Baltic Dry Index, which Lewis notes is now up 43% over the period.
