The Baltic Capesize Index on Friday delivered the biggest daily increase in just over two years and the futures market responded with a frenzy.
The weighted average spot rate across five key capesize routes leapt up by $5,855 on Friday and was assessed by panellists at $28,071 per day.
This is the fifth largest daily jump in the capesize index post-2010, according to Arrow Shipbroking’s research team.
