Disrupted Vessel Circulation, Atlantic Tightening, Drives New Records – The close of the third quarter left crude freight at exceptionally high levels, with the consequences of Saudi Arabia’s East-West pipeline disruption still shaping the eastern market and Atlantic tightening providing stronger support to owners.

What If: The Bear Case for Dry Bulk – As we enter the seasonally strong fourth quarter, dry bulk shipping spot rates remain exceptionally robust, with full-year averages on track to reach multi-year highs.