Singapore’s Grindrod Shipping is reducing debt as rates in the fourth quarter rise for its bulkers.

The company, owned by London-listed Taylor Maritime Investments (TMI), said handysize time charter equivalent earnings were $9,744 per day in the third quarter and $12,380 for supramax/ultramax vessels.

One for the history books: Capesize spot rates make biggest daily leap since 2010
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This has already been surpassed in the fourth quarter.