It has been a good start to 2024 for US-listed dry bulk stocks as an atypical firming of rates for capesizes lifts the market.

Spot rates for the large bulkers have risen more than 7.5% over the past week, according to a market note from Clarksons Securities on Thursday.

“Earnings now stand at $30,300/day … as Cape rates continue to defy the gravity of the usually seasonally weaker winter season,” analysts wrote.