April was pleasant for the Capesize market. Robust iron orerntrade lifted demand for Capesizes, resulting in an increase in triprnrates across all major routes. The BCI (Baltic Capesize Index)rnreached 2,251 by end-April. Improving Capesize freight ratesrnlifted the BDI (Baltic Dry Index) above 1,300 points. In our view,rnthis rally will continue in May too. Firm iron ore and coal trades willrnprovide ample employment opportunities for dry bulk vessels, andrntherefore, our outlook is positive for the dry bulk market.
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