The physical market for capesize bulk carriers saw a slight upturn on Monday, but this was not enough to support the aggressive sell-off seen in the paper market.

The words “What a day” seemed to be on everybody’s lips as the market drew to a close on Monday, even after the physical index showed a slight increase on the back ofrising rates in the Atlantic.

The capesize 5TC — the weighted average of spot rates across five key benchmark routes — was assessed $362 higher at $25,138 per day.