Capesize freight rates hit a three-month high in January defying historical weak seasonality trends as supply bottlenecks caused by adverse weather at the Chinese coast and high commodity prices continued to drive demand for tonnage. S&P Global Cape T4 index for non-scrubber ships touched a 90-day high at $23,908/day on Jan. 12, in contrast to …
The post Dry bulk: Capesize rates spike defying weak seasonality trends first appeared on Hellenic Shipping News Worldwide.