Capesize bulker rates made a sharp upward on Wednesday as fixtures picked up, particularly in the Pacific basin.
The weighted time-charter equivalent (TCE) average for capesizes ticked up $1,197 on Wednesday to $17,721 per day, according to Baltic Exchange assessments.
"Capes are stronger today following yesterday’s more active spot market, particularly in the Asia Pacific region," Clarksons Platou Securities wrote in its daily note.
