Capsize bulker rates surged on Friday to close the week above $35,000 per day for the first time in 12 weeks, and futures rocketed to imply that those levels could stick around next month as well.
The Baltic Exchange’s measure of average capesize spot rates jumped 6.7% in one session to hit $35,200 per day.
This is up a fraction of a per cent from the previous Friday after rates took a midweek plunge and then regained lost ground.
