Geopolitical Risk Premium Broadens – As July comes to an end, the VLCC market has reverted to pricing geopolitical risk as the dominant driver of freight formation, reversing the gradual stabilization that followed the June ceasefire.

Capesize Spot Rates Drop Fast as Inquiry Cools Down – Despite a recent pullback that saw spot Capesize rates drop approximately 10,000 points within days, the fundamental outlook for the dry bulk shipping sector remains resilient, supported by historically high absolute spot market levels and robust cargo volumes.