It would appear so according to the largest dry cargo market rundown from Clarksons Platou Securities.
Analyst Frode Morkedal says higher iron ore activity and steady supply of vessels have been the main factors in the rising market, which has seen rates set successive highs for 2015.
He believes a jump in demand coming first in the Atlantic and now in the Pacific in isolation lifted rates from $7,000 to $11,000 per day.
