Capesize rates rise on new year market optimism

Capesize freight rates rose on bullish market sentiment, as market participants expected more shipping demand for the new year. The Capesize 5 time charter average then went up slightly by $23 day-on-day to $16,656 on Monday, after the Jan contract traded high up to the $14,800 level. The Baltic Dry Index (BDI) also moved upward …