Straits Still Shut as Negotiations Continue – Headlines remain mixed and confidence in a near term resolution is fragile, keeping transit through the Strait of Hormuz effectively constrained.

Dry Bulk Volatility Remains Subdued as Spot Rates Hit 2-Month Highs – The dry bulk spot market remains characterized by a period of relative stability, with spot rates consistently maintaining profitable levels for most owners despite a lack of significant catalysts for movement.