Summary
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The Baltic Dry Index closed at 2,841 points on 21 August with the Capesize index at 4,552, as brokers flagged a potential dry bulk upcycle. Tanker earnings were stronger still: CT1-TCE for standard-speed Middle East voyages was assessed at $504,856 a day and CT2-TCE at $227,568, on heavy VLCC enquiry in and outside the Gulf, tighter prompt tonnage and a higher risk premium. Higher bunker and charter costs feed through to bulk and liquid cargo budgets.