Futures Curve in Steep Contango as Expectations Remain High – With the Capesize spot market reaching multiyear lows due to limited cargo flow and a significant oversupply of vessels, the futures market remains the sole source of optimism in an otherwise subdued environment.

VLCC Market Faces Pressure as Rates Soften Amid Limited Activity and Shifting Trade Flows – The Very Large Crude Carrier (VLCC) market in the Arabian Gulf (AG) experienced a subdued second week of February, resulting in a softening of rates.