Capesize bulker spot rates leapt on Friday amid strong demand and soaring prices for dry commodities, as brokers forecast better times for dry bulk shipping.
The weighted time-charter equivalent average for the segment bounded 20% to $21,131 per day, according to the Baltic Exchange. The Baltic Dry Index also gained to 2,548 points.
"We therefore believe the commodity price rally could signal improved times for dry bulk shipping," Clarksons Platou Securities wrote in its daily report on the sector.
