The dry bulk sector has risen steadily over the last three days as talk of China’s recovery from Covid-19 and a weak real-estate sector breathe hope into a market that has trended downward since the beginning of the year, according to analysts.
Since Monday, the Baltic Exchange’s Capesize 5TC basket of spot-rate averages across five key routes more than doubled to $4,754 per day on Thursday, while the Panamax 5TC has gained 45% to $10,500 per over the same period.
