The capesize bulker market rose to a four-week high over the past week as fixture activity in the Atlantic basin picked up steam.
The Baltic Exchange’s Capesize 5TC basket of spot-rate averages across five key routes has risen 27% since 21 July to nearly $15,200 per day on Friday, reaching its highest point since 28 June.
“After a slow beginning to the week, the capesize market experienced a surge on Wednesday with a rise of over $2,500 in a day on its five time-charter routes average,” Baltic Exchange analysts wrote on Friday in their weekly wrap-up of the dry bulk market.
