Capesize rates have shot up by one fifth today in great part due to Brazil's mining activity and Chinese steel prices.
Shares in public dry bulk owners responded positively, with major names showing upward movement today.
Rates for these vessels gained almost 20% to $11,620 per day, according to the Baltic Exchange.
Shipbrokers and commercial managers say the climb comes as Brazilian miners aim to increase exports after heavy rains contributed to a disappointing first quarter.
