BOAT - Capesize Rates Breached $30000/Day Mark And Became Higher Than Panamax Rates For The First Time In 2022

• Capesize market has the most upside potential over the next few months, which will be one of the main drivers for the strength in the dry bulk market in the near term.
• Ratio between Capesize and Panamax earnings became more than 1.0 times or Capesize rates became higher than Panamax rates for the first time in 2022.
• We forecast Capesize rates will continue to increase to about $40,000/day or about 1.5 times higher than Panamax rates (about $30,000) in the coming weeks.

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