Capes surge across the board

Capesize rates, bubbling away for the past week, are now at three-month highs. The Baltic’s capesize index jumped 249 points, or 8.6%, to 3,132 points yesterday. Average cape daily earnings gained $2,065 to $25,976. The front month capesize futures contract traded at near two-year highs of $30,000 on Monday, a huge improvement from the $9,000 …

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