Capesize rates have improved steadily over the past two weeks, but they are not enough to break out the bubbly just yet, according to analysts.
The Baltic Capesize Index's daily weighted time charter equivalent (TCE) rate ramped up to $4,152 per day from $2,552 per day on 10 March, but the latest figure still leaves shipowners at a loss, BTIG analyst Greg Lewis said.
