The dry bulk market is still looking good. In particular, freight rates for capesize vessels of over 150,000 dwt are continuing to rise due to a combination of increasing demand and a lack of available tonnage.
The Baltic Capesize Index soared to 7,600 points, its highest position since 19th November 2009. Average daily earnings for these units rose 2.8 per cent to $63,030 yesterday. This represents a 17% increase on a week ago.
The best results were recorded on the Pacific trade routes. In particular, the transpacific (c10) route recorded average daily earnings of $67,000 at the close of last week while on the C9 fronthaul route capsize vessels are making their owners almost $82,000 per day.
Translation by Giles Foster
