DRY BULK MARKET

摘要

From a 9-month low of 948 points in early April, the Baltic Exchange Dry Index surged to a year-to-date high of 1,476 points in mid-May. This was almost entirely due to a rebound in Capesize spot TC earnings, which leapt from $7,000/day to over $20,000/day in little more than four weeks. The upswing in Capesize spot rates followed a much weaker than expected showing in March (when the Cape 5 TCs averaged $10,373/day, which was their lowest monthly level since July 2017) and implied some improvement in export cargo availability.