Handysize bulkers are having their moment, with spot rates maintaining a largely consistent upwards trend since hitting rock bottom last May.
But the handysize market is fragmented and opaque, making it less obvious why spot rates have sustained such an epic bull run.
The weighted time charter average rate for the Baltic Exchange’s seven key handysize benchmarks has risen by 193% since mid-May 2020 and was assessed at $12,056 per day on Friday.
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