The jump on the Capesize Index is impressive: this is the largest weekly increase on record for the index (up 21,767WoW) and a ~6x standard deviation event... even for shipping standards this is stunning...π€―
βMy grandmother had a simple saying about the cycles, β98 ships and 101 cargos equals boom. 101 ships and 98 cargos equals bust.β
As seen on #TimeMachine 2023 has been the best performing November for month-ahead Capes on record, posting an incredible 91% rally.
#capesize#shipping $bdry
Today: 22,996 +1,351
MTD avg 22,321
YTD avg 12,729
'23 FFA 20K
Happy days are back in this moody business, with C3 approaching $25 and fuel spread $170.
Good to see some empiricism is still valid, after a disappointing Q3.
#dividends#drybulk#capesize#2020bulkers
A significant jump in Cape spot rates today driven by an active Trans-Atlantic market against a slim tonnage list
Capesize index +22% to $14k/d π
Brazil/China +5% to $12k/d
China/Japan RV +3% to $12k/d
Transatlantic RV +48% to $17k/dπ
The fund is long #DryBulk#shipping