High rates on idle capesize bulker route 'significant'

A lofty rate for a seldom-traveled capesize bulker route may not accurately reflect the physical market but still means plenty for this dry bulk sector, pundits say.

The Baltic Exchange's time-charter equivalent (TCE) for trips to China and Japan from the European Continent/Mediterranean has been hovering around $80,000 per day since gaining about $27,000 per day in the past month.