The dry bulk market bounced back

The dry bulk market bounced back today after a perception in some quarters that there were signs of weakness appearing. In the Capesize sector, the trans-Atlantic round voyage rate, as assessed by the Baltic Exchange panel rose by nearly $5,000 per day to again exceed $130,000 per day. The fronthaul rate to the East rose more than $5,000 per day to get close to $180,000 daily. Things were not quite so firm in the East as a Pacific round voyage only rose by just over $4,000 per day. In the Panamax sector, all four timecharter trades rose as did five of the six Handysize Index routes. One of the stars of recent times, the Supramax sector, showed some signs of weakness and fell slightly. Some observers have suggested that the Federal Reserve’s decision to lower interest rates slightly may have influenced the market rises, and questioned whether the revival would last.