Dry bulk rates boosted by Capesize

The dry bulk index BDI has reached an 11-month high. This is mainly attributed to an increase in the rates for Capesize vessels, but for the long term, analyst agency Morgan Stanley points to an overall improvement in the dry bulk market due to a potential increase in Chinese imports.

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The dry bulk index (BDI) reached an eleven-month high last week and continued to increase for the fifth consecutive week. The increase in the index is primarily attributable to growth in the rates for Capesize vessels, writes analyst agency Morgan Stanley.

Last week, Capesize rates went up by 50 percent compared to the previous week and reached a level of USD 10,600 per day, which is 65 percent above the average level for the past two months.

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