The futures market for capesize bulkers continues to climb on the back of unusually high panamax rates that are trumping capesizes in the physical market, according to brokers.
Capesize freight-forward agreement (FFA) rates leapt for the second day straight, pushing February numbers up $375 per day to $10,344 per day, according to the Baltic Exchange.
March FFA rates jumped $537 per day to $8,725 as first-quarter figures gained $304 per day to $13,582 per day and fourth quarter rates rose $656 per day to $18,250 per day.
