It has been a particularly strange Q1 for dry bulk shipping. Usually, the larger ships — Capesizes with capacities of around 180,000 deadweight tons (DWT) that carry iron ore and coal — do poorly all quarter. This year, they did better in January than they had in a decade before succumbing to their usual slump.
Then came another oddity: The smaller bulkers began earning much more money than the Capesizes. As of Tuesday, Handysize bulkers (up to 35,000 DWT) were earning $19,400 per day, according...
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