Capesizes climbed by a quarter last week and continued to improve today with the Baltic Capesize Index hitting its highest point since the start of December last year.
Magnus Fyhr of GMP notes capes are now 300% above their low point of $5,000 per day in April 2015 with rates moving from opex break-even to cash break-even.
Fyhr said in a report the dry cargo shares he follows rose 23.8%
