Capesize period rates have experienced a recovery this week thanks to stronger market fundamentals on both the Australia to China and Brazil to China routes. Rates for six months were up 30% from last week to an average of $35,000/pdpr across both basins.

Another week of gains for the kamsarmax/panamax markets, spurred by a strong market in the Atlantic and a stable Pacific basin.

The smaller sizes also continued to show strength due to a strong market in Asia, after a quiet start to the week with plenty of interest in short term period fixtures reported.