Physical Leads the Way as Traders Remain Cautious – A resurgence in activity across all asset classes has propelled dry bulk spot rates to multi-month highs, with Capesize rates reaching their best levels of the year and Panamax spot rates surpassing $10,000 once again.

VLCC Market Under Pressure Amid Summer Lull and Weak Demand – Despite some mid-May signs of rate stabilization that briefly lifted sentiment, the end of May paints a negative picture for the VLCC freight market across both Eastern and Western routes.