Bulker markets have been strong this year to date and the best could still be ahead, according to John Michael Radziwill, the chief executive of pooling giant C Transport Maritime (CTM) and shipowner GoodBulk.

Average daily capesize spot rates swung back up above the $40,000 level on Monday and Radziwill believes they could reach $50,000 before the end of the year.

The volatility being seen in dry cargo markets, particularly for capesizes, is down to "the crazy world we live in today", Radziwill said.