A sudden revival in the Capesize market towards the end of June coupled with more gradual increases in the other bulker sectors pushed the Baltic Exchange Dry Index to 1,179 points on 1 July, which was the highest index reading since January 2012. An increase in fronthaul chartering activity proved instrumental in propelling the Capesize 4 TC average above $15,000/day at the end of June. Atlantic RV rates have risen at a quicker rate than the Pacific equivalent. This owes much to a rise in Atlantic cargo availability and limited inflow of ballasters.
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