Capesize spot rates approaching the 20,000 mark as seasonality kicks in – With the summer dull days coming to an end, dry bulk activity is once again picking up, and with that, Capesize spot rates have begun to creep higher, although still inside the tight range that has prevailed for most of the past 18 months.

Period rates and freight futures point to a solid recovery, but spot VLCC rates still struggle – Although sentiment in the tanker market remains upbeat, spot rates have not been able to show some solid momentum to satisfy such a bullish outlook.