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Rates for major bulk vessels up almost 50 pct

From a record-low starting point, spot rates for the major Capesize bulk vessels have in the past week increased 46.5 percent to USD 10,554 per day.

Photo: Norden

Spot rates for the dry bulk industry's largest workhorses, the Capesize vessels, have in the past week increased by upwards of 50 percent, though this is not likely to mean that anyone is dreaming of a decisive turnaround in the extremely low rates.

According to Global Hunter Securities on Wednesday, the spot rate for a Capesize has climbed to USD 10,554 per day, a 15.5 percent increase from Tuesday and up 46.5 percent compared to the spot rate a week ago, where the benchmark Baltic Dry Index improved throughout several consecutive days.

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