Capesize Spot Rate Volatility Collapses to Multi-year Lows – Despite maintaining healthy absolute price levels across all asset classes, the dry bulk shipping sector, historically one of the most volatile commodity markets, is currently experiencing a significant collapse in volatility to levels not seen since 2018.

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.