Average capesize spot rates leapt up by 21% on Tuesday as much of the market returned to work after public holidays.
The Baltic Capesize Index assessment was not published on Monday due to a UK public holiday. Meanwhile, many market participants took a break to celebrate Orthodox Easter.
Fixing activity by major miners has been steady in the Pacific but appears to have slowed in the Atlantic as tonnage lists in the north of the basin run short relative to cargo supply, driving up rates.
