On Friday, capesize rates rise 12.7 percent to $22,200, according to figures from Clarksons. Panamax rates rise 0.9 percent to $16,800, while supramax rates fall 0.8 percent to $16,100.
During the last week, the capesize rates have thus increased by 23.1 per cent, while they are up 9.7 per cent during the last month.
Increased activity
“The Capesize rates have increased significantly after the holiday on Wednesday. Brokers report increased activity in the Pacific, where two of the three major mining companies were active in the market yesterday. A positive change in sentiment, and less tonnage in the North Atlantic, is also supporting rates,” writes Clarksons.
On Oslo Børs, Golden Ocean falls 0.6 percent, 2020 Bulkers climbs 0.2 percent, Belships falls 2.2 percent while Jinhui Shipping adds 3.4 percent.
Baltic Dry up 5.8 percent
The Baltic Dry index, which shows the level of earnings for shipping dry cargo such as coal, grain and iron ore, rises 5.8 percent to 1,876 points. The index, which is compiled by the London-based Baltic Exchange, reached an all-time high on May 20, 2008, when it reached 11,793 points, while the all-time low occurred on February 10, 2016, when it was down to 290 points. The Baltic Dry index is considered an indicator of global economic activity, as it reflects the demand for the shipping of raw materials.
