The Baltic Dry Index has risen above the 2,000-point level for the first time since July last year, powered by a massive upgrade to the assessment of average capesize spot rates.
The index, which is an overall indicator of the strength of bulker markets excluding handysizes, rose by 86 points on Tuesday to reach 2,058.
The BDI has been on an upward trajectory since the start of September, powered by a new shot of optimism for the third quarter, which is seasonally the strongest period of the year for capesizes.
