The average spot rates for handysize bulkers continued to rise over the past week as a result of plenty of fixture activity in the spot and period markets.

The Baltic Exchange’s Handysize 7TC of spot-rate averages across seven key routes gained 10% over the seven-day period to $11,361 per day on Friday, marking its highest point since late December 2022 and propelling an upward trend that began in mid-February.

“Positivity continued this week,” Baltic Exchange analysts wrote on Friday in their weekly wrap-up of the dry bulk market.