Time To Take A Look At Shipping? Capesize Vessel Rates Indicate “Yes”

Earlier this month, the Baltic Dry index hit 2,230, a 52-week high and good news for the shipping industry, which has been grappling with low rates for some time now. What’s more, rising demand for oil and refined products within Asia has driven tanker rates to a three-and-a-half year high. Furthermore, the rate for Jones Act tankers also hit an all-time high last week, as surging domestic US oil production squeezes the market for US flagged vessels — Under the Jones Act only US flagged vessels are allowed to transport cargo between US domestic ports. All of this is great…