The VLCC Market Remains Well Supported as Attention Turns to Summer Demand – As the end of May approaches, the VLCC freight market has remained on a slight upward trajectory, with the benchmark rates from the Middle East Gulf to China up approximately 15% since the beginning of the month.

Dry Bulk Spot Rate Volatility Points to Ongoing Positional Imbalances Amidst Solid Volumes – After bottoming in the high-teens, the Capesize Spot Index posted a solid recovery, pushing freight rates back towards the high-20,000 level, in line with where the futures market has been trading for weeks now.