Rates for major bulk ships improving after big dive

The dry bulk sector's workhorses, Capesize vessels, are noting a surge in rates for the first time in weeks, boosting the benchmark index by 7 percent.

Photo: Songa Bulk

Rates for the major dry bulk ships and the sector's biggest workhorses, Capesize vessels, are now improving after plunging for six straight weeks to extremely low levels.

According to Morgan Stanley's shipping analysts, Capesize rates pushed the benchmark Baltic Dry Index up 7 percent last week, as rates for these ships increased to USD 8,800 per day.

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