Spot Rates Bounce as Capesize Market Finds Short-Term Bottom – Following a dramatic 64% decline in spot rates since early December, which saw the Capesize Index lose approximately 28,000 points, the market appears to have reached a tentative bottom.

VLCC Futures Curve in Contango as Optimism Returns – Following the stabilization observed in mid-December, the Very Large Crude Carrier (VLCC) spot market has entered the new year with a cautious outlook, as charterers leverage persistent oversupply and limited forward-coverage urgency to pressure freight rates.