Capesize Rates Remain Seasonally Strong Despite Recent Drop – The dry bulk market continues to demonstrate seasonal resilience, characterized by highly profitable freight rates and a positive outlook equally supported by a strong freight futures curve.

VLCC Gulf Strength Persists as Atlantic Softens – The month of May marked a turning point for the VLCC market. Geopolitical risk in the Middle East continued to drive extraordinary earnings in the Arabian Gulf, while the Atlantic Basin increasingly reflected softer freight fundamentals.