Dry Bulk Spot Rates Approaching Seasonal All-Time Highs – The dry bulk market remains exceptionally resilient, with robust global iron ore and bauxite volumes driving spot rates to near-record seasonal highs despite a rather uneventful coal market.

VLCC Atlantic Support vs AG Uncertainty – Since the onset of the geopolitical disruption, what initially appeared to be a short-term reaction in the VLCC market is now developing into a more meaningful shift, with a clearer divide emerging between the AG and the Atlantic.