VLCC Market Strengthens as Geopolitical Tensions Rise and Winter Demand Looms – The third week of October closed with signs of firmer market sentiment for VLCC owners in both the East and West regions, as geopolitical tensions in the Middle East persisted despite oil prices edging lower.

Sentiment Turns Sour as Capesize Futures Drop – Following a long period of stability, volatility in the dry bulk market jumped last week as freight futures dropped to eight-month lows, a rather unexpected development succeeding a long period of rangebound pricing.