Positive momentum continues in the capesize market, despite a momentary midweek blip, as rates see a 33% weekly rise.
Still skirting three-month highs, the average spot rate on the Baltic Exchange spiked overnight to $20,084 per day, up 16% from the previous day, 22% since Monday and soaring above the $6,964 of a month ago.
The capesize time-charter average did take a dip midweek to $15,711, bringing down the week-on-week increase, but swiftly recovered to $17,267 on Thursday.
