Dry bulk market shows signs of life as rates and futures rise
- Capesize spot rates increase to $11,584 per day, double the low hit two weeks ago
- Share prices are rising, with Golden Ocean up 7% midday Wednesday on high volume
- New US port fee plan does not change dry bulk outlook, says Golden Ocean chief executive
The big question for dry bulk has been: Is this just the normal seasonal weakness, or something more? It’s too early to say, but as the typical Q1 weather impacts are winding down, spot rates are coming back up
