The spot market for capesize bulkers continued to increase over the last week, up $3,600 per day to $13,900 per day by midweek.

However, no longer period deals were concluded and the shorter period deals were done at levels lower than the spot market, reflecting the scepticism of some that improved rates can be maintained.

SwissMarine has taken the 175,000-dwt Maria Carmen Lembo (built 2011) for five to nine months at $11,000 per day.