Singapore-based brokers estimate that "six or seven" capesize bulkers have gone into hot lay-up, according to reports.

Brokers told Reuters they do not anticipate a recovery in the cape field for the next six to nine months at least.

The cape spot market remains weak and the period market has all but disappeared, Oslo-based shipbroker Fearnleys said in a report on Wednesday.

That being said, the Baltic Capesize Index rebounded somewhat Thursday, jumping 50 points on Wednesday to reach 407 points. This is the index's highest level since March 11, having fallen every day since Feb. 10.

"So where can we look for positive signs?” Fearnleys asked in its weekly report on Wednesday. "Well, in the 100-200,000dwt segment the deletions (scrapping) outweigh the deliveries by about 2m dwt. In the larger segment of 200,000-plus dwt, the deliveries still outweigh the deletions. In finite numbers, 30 capers have been scrapped to date, compared with a total in 2014 of 29 units.”