Capesize bulker rates shot up today as the market hit its highest point since mid-November.
Skimming just below $24,000 per day, the average capesize spot rate on the Baltic Exchange rose by 4% overnight and is up by 16% since Monday.
This continues a longer climb of 52% in just over a week.
The dry bulk market has continued to showcase healthier volumes as it moves past the seasonally slow first part of the year, Jefferies noted, labelling capesize rates an “out-performer”.
