VLCC Rates Soften but Remain at Historically High Levels – The dirty tanker market continues to trade at substantially higher year-over-year levels, with the Baltic Dirty Tanker Index currently around 90% above the same period last year.

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.