More ocean shipping signals are flashing green. First came a recovery in the container sector, driven by surging U.S. consumer demand. Now comes a rebound in dry bulk shipping. Rates for large bulkers known as Capesizes, which have a capacity of 100,000 deadweight tons (DWT) or more, just hit year-to-date highs, driven primarily by industrial demand.
The Baltic Exchange’s 5TC index assessed Monday’s time-charter equivalent (TCE) rates for Capesizes burning 0.5% sulfur fuel at $34,293 per day....
https://www.freightwaves.com/news/dry-bulk-shipping-rates-just-hit-a-new-2020-high