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Biggest boom in dry bulk since 2010

Dry bulk rates have skyrocketed in recent weeks, and last week brought the strongest increase since August 2010, says Fearnley.

Photo: Pressefoto

Last week, rates in the Baltic Dry Index increased by 268 points, corresponding to 16.4 percent, according to Fearnley. That was the biggest weekly increase since August 2010, still driven by the rates for the biggest dry bulk ships, Capesize, though aided by positive developments in the Panamax segment.

Though Supramax also seems to be improving, the ships remain unaffected by the positive momentum of the bigger segments, which pushed spot rates up to almost USD 40,000 per day for the biggest Capesize vessels. But this also means the rates have peaked, according to several broker estimates, which point out that the momentum seems to be running out of steam.

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