A welcome upward shift in capesize and panamax rates combined to snap a dozen-day losing streak for the Baltic Dry Index (BDI) midweek.
At 727 points and earnings below $10,000 daily for all the sub-sectors, owners will be hopeful that the positive script for a second-half recovery rings true.
Ben Nolan of Stifel says the volatility of capesize rates during the first half and the relatively strong period market point to better times in the back half of 2014.
“Furthermore,
