The capesize bulker market achieved its highest point in a week on Wednesday as fixture activity in the Atlantic basin lifted sentiment, according to an analyst.
The Baltic Exchange’s Capesize 5TC set of spot-rate averages across five key routes jumped 6.5% on Wednesday to $14,106 per day to cross the $14,000-per-day threshold for the first time in seven days.
“According to broker reports, it’s the Atlantic that drives the sentiment on the back of robust fixtures from South Brazil and West Africa,” Clarksons Securities analyst Frode Morkedal wrote in a note.
