This year in the summer market, the summer doldrums were conspicuous by their absence, and the onset of autumn brought record increases in rates. After rather modest fluctuations at high levels over the summer, September and especially October have seen amazingly strong developments. During September and the first three weeks of October alone, the Baltic Dry Index almost doubled and was up 98 percent, ending 3.3 times higher than one year before. Compared with one year ago, the Capesize index was 3.9 times higher, the Panamax index 3.2 times higher, and the handymax index 2.3 times higher.
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