Drybulk shipping rates surged higher overnight, drybulk shippers rally

|By:, SA News Editor

Drybulk shipping rates, as measured by the Baltic Dry Index, surged 8.2% overnight, driven by strength across the board but mainly in capesize and panamax rates.

Capesize rates jumped 15.7% to $13,677/day, Panamax rates climbed 9.7% to $5,883/day, and Supramax rates rose 1.9% to $9,004/day.

Related drybulk stocks include: DRYS +2.6%, PRGN +5.8%, DSX +3.9%, FREE +7.9%, EGLE +2.2%, NM +5.6%, NMM +1%, SBLK +6.2%, SB +5.7%, BALT +3.8%, SHIP +0.7%, DCIX flat.