Welcome to Breakwave Advisors Weekend Read
As the week comes to a close, take a moment to review the key insights from the past few days. Missed something? We've gathered all the top insights for you to catch up at your convenience.
Breakwave Shipping Report
VLCC Rates Soften but Remain at Historically High Levels – The dirty tanker market continues to trade at substantially higher year-over-year levels, with the Baltic Dirty Tanker Index currently around 90% above the same period last year.
Insights Of The Week
Dry Bulk market on a stronger footing
This time last year, the dry bulk market was grappling with pronounced weakness and a lack of conviction across nearly all segments.
Doric Weekly Market Insights
EU-Latin America Fresh Trade Dynamics
The European Union and Mercosur (a South American trade bloc) have delivered their long-sought trade pact, along with a political statement few could have imagined when talks began 25 years ago.
BRS Weekly Dry Bulk Newsletter
CPC outage + Venezuela re-routing lift Aframax demand in Gulf of Mexico
Strong European demand for WTI and a rise in liftings of Venezuelan crude to US Gulf have boosted the region’s Aframax rates to the point where Suezmaxes are now more competitive.
Braemar Research
China’s dry bulk market usually fades into the Lunar New Year, yet the first three weeks of 2026 are doing the opposite: volumes are firmer year on year, tonne-miles are improving, and freight is refusing to “switch off”.
Xclusiv Shipbrokers Weekly Report
Grain Trade Developments and Implications of U.S.–Russia Negotiations for Black Sea Shipping
This week’s Allied QuantumSea Research reviews January 2026 developments in the global grain trade, where outcomes were shaped primarily by Black Sea security and operating conditions rather than changes in agricultural supply or export infrastructure.
Allied Weekly Report
Energy markets on edge amid supply risks
Precious metals recorded gains amid strong investor interest. Energy markets remain on edge, as supply risks rose. Weaker demand weighed on metals.
Commodities Wrap
Even Stronger Steel Production Growth Ex-China
As we discussed in Commodore Research's most recent Weekly Executive Report, global steel production totaled approximately 139.6 million tons in December.
From Commodore's Weekly Dry Bulk Reports
India crude imports set to remain elevated in January
India crude imports are approaching record levels in January as non-Russian crude arrivals surge amid a pivot from Russia-origin crude.
Vortexa Freight Weekly
Grain Flows to China and Freight Signals
China continues to favour Brazilian and South American supplies into early 2026
Signal Ocean Dry Weekly Market Monitor
Riding the Fire Horse (Without getting burned)
Each Lunar New Year is characterized by one of 12 animals which appear in the Chinese zodiac.
Feng Shui analysis for the Year of the Horse
Asia Adjusts to Shifts in Heavy Crude Availability
Recent developments in oil production and export flows from Venezuela have prompted closer market attention on alternative sources of heavy and discounted crude, including supplies associated with Iran, as Asian refiners reassess sourcing strategies.
Signal Ocean Tanker Weekly Market Monitor