Capesize rates continued their upward trend on Thursday, taking a nice bunny hop before the long Easter weekend.
The Baltic Exchange Capesize Index's weighted timecharter equivalent TCE) average across seven routes gained 12.6% from Wednesday to $6,762 per day. The index also went up 116 points to 541.
"Capesize moved higher across the board today, following yesterday’s improvement in the Atlantic, especially seeing higher levels on front-haul fixtures," Clarksons Platou Securities managing director of research Frode Morkedal wrote in a client note.
