Average spot earnings for capesize bulk carriers rose 15% over the past week before leveling out on Monday.
The upturn seen last week was buoyed principally by rising rates on routes between Australia and China.
Capesize rates climbed to $15,746 per day globally on Friday and sat at $15,606 per day today, according to the Baltic Exchange.
Spot rates on the Baltic’s Western Australia-Qingdao (C5) benchmark route rose 11% week on week from $6.3/tonne to $7.0/tonne.
Clarksons said a “healthy level” of fixing was seen throughout last week on transatlantic routes.
The Baltic’s Gibraltar/Hamburg trans-atlantic round voyage was assessed on Friday at $16,500 per day, a 6% increase compared to the assessment of $15,560 per day made a week previously.
A less dramatic week-on-week rate increase was also seen on the Tubarao-Qingdao benchmark route, which rose 1.4% from $17.5/tonne on 11 January to $17.75/tonne on Friday.
“North Atlantic trading was largely focussed on tonnage willing to breach International Navigating Limits (INL) and owners saw premiums for trading from these areas,” a Baltic Exchange market report said on Friday.
Average capesize spot earnings earnings were assessed at $11,887 per day on 11 January.
