Dry bulk market showing signs of stronger recovery

The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels not seen in weeks. The recovery was led by the Capesize market, which burst forward by an impressive 6.52%, with the Baltic Capesize Index reaching 1,699 points, finally surpassing the relative earnings of the much smaller in size Supramax ship type (1,512 points). As for the Panamax segment, it still “rules” the dry bulk market with the highest earnings, with the Baltic Panamax Index rising yesterday by 2.29% to 2,095 points.
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Source: Hellenic Shipping News