Firming bulker rates saw owners make a rush for dry bulk tonnage over the past four weeks.

“September is a month of joy for bulker trade,” Xclusiv Shipbrokers noted, pointing to the Baltic Dry Index hitting highs not seen since May, led by capesize gains.

Xclusiv reported shipowners were in a rush to buy across all segments before the current rise in freight rates drives the vessels’ value higher.

However, the limited availability of younger eco ships means owners with money to spend...