Dry bulk capesizes this week reversed course from an abysmal plummet, but shipowners may want to keep the champagne on ice for now.
Average TCE rate spiked 51% to $6,387, according to Baltic Exchange, stopping a nosedive begun late January when the Vale dam disaster took 40 million tonnes of iron ore off the market.
The Brazilian iron ore giant closed 50 tailing dams for testing soon after one in Faijeo collapsed on 25 January, killing dozens of people.
