Dry-bulk freight market edges lower as global tonnage balance shifts, with most size segments losing ground day-over-day.
Global supply & demand
The DBPI pressure index has softened to 2389.0, a -74 d/d move from the previous level, indicating a slight easing in overall market pressure. The laden sailing ratio (LSR) remains at 58%, which is roughly flat on the day and suggests that open tonnage levels are relatively stable. However, when looking at the laden versus ballast split, we see 370M dwt laden compared to 267M dwt ballast, indicating a surplus of available capacity. The world port/sea ratio stands at 0.54, which is below the threshold of 1.0 that would typically be seen as supportive for rates due to congestion or high demand. Overall, these metrics suggest a balanced global fleet with some softness in demand.
The supply and demand balance varies across different tonnage bands, but the general trend seems to be one of gentle downward pressure on rates. For instance, the VLOC segment is noted as firmest at +112% vs balanced, driven by strong demand on routes like NORTH AUSTRALIA → NORTH CHINA, while Handysize is the softest at +11% vs balanced. These divergent performances highlight the complexity of the market and the need to consider specific regional and size-segment dynamics.
Band-by-band breakdown
Every tonnage band we track, in size order — its assessed rate, momentum versus a balanced market, and the load regions driving it. A band still accruing enough tracked activity is shown as building.
0-5K — ~$5011/day ($-895 d/d); 2703 voyages, 4935538 kt-miles tracked
Momentum: +44% vs balanced, -2.2% day, -15.6% week (relative to a balanced market).
SOUTH NORWAY — ~$7904/day
Supply/demand — 17 ships open (~59k dwt); inbound ballast 16 vs laden 34; ballast-share 36%; demand-pull rel 1.60; scarcity 1.30. Leading signal — 7-day ballast-pull -11% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Floro (PAI 6.8), Rekefjord (PAI 6.2), Husoya (PAI 5.6). Busiest lanes out — SOUTH NORWAY→GERMANY (56 voyages, ~$6470/day); SOUTH NORWAY→SOUTH NORWAY (115 voyages, ~$6470/day); SOUTH NORWAY→DENMARK (52 voyages, ~$6470/day).
NETHERLANDS — ~$6132/day
Supply/demand — 29 ships open (~96k dwt); inbound ballast 10 vs laden 29; ballast-share 30%; demand-pull rel 1.24; scarcity 1.24. Leading signal — 7-day ballast-pull -38% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Rotterdam Maasvlakte (PAI 11.4), Rotterdam Waalhaven (PAI 9.4), Vlissingen (PAI 8.2). Busiest lanes out — NETHERLANDS→SPAIN (24 voyages, ~$6482/day); NETHERLANDS→SWEDEN (26 voyages, ~$6482/day); NETHERLANDS→SOUTH NORWAY (23 voyages, ~$6482/day).
RUSSIA — ~$6019/day
Supply/demand — 25 ships open (~84k dwt); inbound ballast 83 vs laden 91; ballast-share 49%; demand-pull rel 1.22; scarcity 0.72. Leading signal — 7-day ballast-pull +12% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Astrakhan (PAI 8.1), Rostov-On-Don (PAI 6.3), Azov (PAI 4.5). Busiest lanes out — RUSSIA→IRAN (22 voyages, ~$6482/day); RUSSIA→WEST TURKEY (16 voyages, ~$6482/day); RUSSIA→RUSSIA (59 voyages, ~$6482/day).
GERMANY — ~$7904/day
Supply/demand — 11 ships open (~41k dwt); inbound ballast 18 vs laden 21; ballast-share 43%; demand-pull rel 1.60; scarcity 1.30. Leading signal — 7-day ballast-pull +20% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Hamburg (PAI 20.6), Rostock (PAI 15.6), Brake (PAI 9.6). Busiest lanes out — GERMANY→SOUTH NORWAY (29 voyages, ~$5900/day); GERMANY→NORTH UNITED KINGDOM (24 voyages, ~$5900/day); GERMANY→SPAIN (9 voyages, ~$5900/day).
SWEDEN — ~$7904/day
Supply/demand — 10 ships open (~40k dwt); inbound ballast 15 vs laden 25; ballast-share 37%; demand-pull rel 1.60; scarcity 1.30. Leading signal — 7-day ballast-pull +67% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Oxelosund (PAI 5.0). Busiest lanes out — SWEDEN→GERMANY (27 voyages, ~$6325/day); SWEDEN→SOUTH UNITED KINGDOM (14 voyages, ~$6325/day); SWEDEN→SWEDEN (42 voyages, ~$6325/day).
5-10K — ~$6383/day ($-582 d/d); 1740 voyages, 9579562 kt-miles tracked
Momentum: +20% vs balanced, -1.4% day, -14.6% week (relative to a balanced market).
RUSSIA — ~$10416/day
Supply/demand — 26 ships open (~181k dwt); inbound ballast 105 vs laden 34; ballast-share 72%; demand-pull rel 1.60; scarcity 0.71. Leading signal — 7-day ballast-pull +3% (ballast interest broadly steady). Load hubs where cargo is concentrating: Rostov-On-Don (PAI 7.2). Busiest lanes out — RUSSIA→NORTH TURKEY (38 voyages, ~$9546/day); RUSSIA→WEST TURKEY (21 voyages, ~$9546/day); RUSSIA→IRAN (9 voyages, ~$9546/day).
SOUTH NORWAY — ~$5689/day
Supply/demand — 6 ships open (~34k dwt); inbound ballast 4 vs laden 13; ballast-share 34%; demand-pull rel 0.87; scarcity 1.30. Leading signal — 7-day ballast-pull -64% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Rafnes (PAI 5.3), Porsgrunn (PAI 4.6). Busiest lanes out — SOUTH NORWAY→GERMANY (34 voyages, ~$7928/day); SOUTH NORWAY→NETHERLANDS (19 voyages, ~$7928/day); SOUTH NORWAY→DENMARK (30 voyages, ~$7928/day).
VIETNAM — ~$7457/day
Supply/demand — 17 ships open (~127k dwt); inbound ballast 9 vs laden 20; ballast-share 37%; demand-pull rel 1.15; scarcity 1.05. Leading signal — 7-day ballast-pull -10% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Ho Chi Minh (PAI 6.6). Busiest lanes out — VIETNAM→PHILIPPINES (22 voyages, ~$9546/day); VIETNAM→SOUTH KOREA (5 voyages, ~$9546/day); VIETNAM→VIETNAM (30 voyages, ~$9546/day).
SWEDEN — ~$10002/day
Supply/demand — 6 ships open (~46k dwt); inbound ballast 9 vs laden 13; ballast-share 40%; demand-pull rel 1.54; scarcity 1.30. Leading signal — 7-day ballast-pull +50% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Goteborg (PAI 7.0), Oxelosund (PAI 5.3). Busiest lanes out — SWEDEN→SPAIN (11 voyages, ~$6979/day); SWEDEN→NETHERLANDS (17 voyages, ~$6979/day); SWEDEN→SWEDEN (44 voyages, ~$6979/day).
SOUTH JAPAN — ~$8022/day
Supply/demand — 14 ships open (~97k dwt); inbound ballast 10 vs laden 16; ballast-share 38%; demand-pull rel 1.23; scarcity 1.03. Leading signal — 7-day ballast-pull -23% (ballast interest thinning here (softening)). Busiest lanes out — SOUTH JAPAN→PHILIPPINES (5 voyages, ~$8966/day); SOUTH JAPAN→THAILAND (3 voyages, ~$8966/day); SOUTH JAPAN→SOUTH KOREA (21 voyages, ~$8966/day).
10-17.5K — ~$9686/day ($+253 d/d); 599 voyages, 14020413 kt-miles tracked
Momentum: +40% vs balanced, +0.7% day, -4.4% week (relative to a balanced market).
SOUTH JAPAN — ~$12084/day
Supply/demand — 35 ships open (~473k dwt); inbound ballast 19 vs laden 16; ballast-share 49%; demand-pull rel 1.36; scarcity 0.95. Leading signal — 7-day ballast-pull -5% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Kobe (PAI 5.4), Fukuyama (PAI 4.9). Busiest lanes out — SOUTH JAPAN→THAILAND (16 voyages, ~$12095/day); SOUTH JAPAN→VIETNAM (12 voyages, ~$12095/day); SOUTH JAPAN→WEST INDONESIA (7 voyages, ~$12095/day).
WEST INDONESIA — ~$14199/day
Supply/demand — 9 ships open (~114k dwt); inbound ballast 12 vs laden 10; ballast-share 49%; demand-pull rel 1.60; scarcity 1.17. Leading signal — 7-day ballast-pull +33% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Jakarta (PAI 5.5). Busiest lanes out — WEST INDONESIA→NORTH CHINA (8 voyages, ~$11332/day); WEST INDONESIA→SOUTH JAPAN (6 voyages, ~$11332/day); WEST INDONESIA→MID CHINA (4 voyages, ~$11332/day).
NORTH CHINA — ~$10496/day
Supply/demand — 20 ships open (~265k dwt); inbound ballast 8 vs laden 10; ballast-share 44%; demand-pull rel 1.18; scarcity 0.91. Leading signal — 7-day ballast-pull +14% (empty ships building toward this load zone (firming)). Busiest lanes out — NORTH CHINA→EAST INDONESIA (6 voyages, ~$13105/day); NORTH CHINA→WEST INDONESIA (4 voyages, ~$13105/day); NORTH CHINA→VENEZUELA (1 voyages, ~$13105/day).
USEC — ~$13176/day
Supply/demand — 10 ships open (~148k dwt); inbound ballast 12 vs laden 12; ballast-share 47%; demand-pull rel 1.49; scarcity 1.08. Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Busiest lanes out — USEC→SOUTH KOREA (2 voyages, ~$13502/day); USEC→NORTH AUSTRALIA (1 voyages, ~$13502/day); USEC→SAUDI ARABIA (1 voyages, ~$13502/day).
VIETNAM — ~$11249/day
Supply/demand — 12 ships open (~165k dwt); inbound ballast 7 vs laden 12; ballast-share 41%; demand-pull rel 1.27; scarcity 1.06. Leading signal — 7-day ballast-pull -50% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Ho Chi Minh (PAI 5.0). Busiest lanes out — VIETNAM→SOUTH JAPAN (6 voyages, ~$13502/day); VIETNAM→NORTH CHINA (4 voyages, ~$13502/day); VIETNAM→UNITED STATES PACIFIC (1 voyages, ~$13502/day).
17.5-30K — ~$11565/day ($-949 d/d); 34 voyages, 3450130 kt-miles tracked
Momentum: +33% vs balanced, -3.3% day, -23.1% week (relative to a balanced market).
FINLAND
Leading signal — 7-day ballast-pull +100% (empty ships building toward this load zone (firming)). Busiest lanes out — FINLAND→USEC (6 voyages, ~$9167/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull -22% (ballast interest thinning here (softening)). Busiest lanes out — SOUTH BRAZIL→GAMBIA (3 voyages, ~$5942/day); SOUTH BRAZIL→SPAIN MED (2 voyages, ~$5942/day).
USEC
Leading signal — 7-day ballast-pull -22% (ballast interest thinning here (softening)). Busiest lanes out — USEC→WEST INDONESIA (2 voyages, ~$13514/day).
NORTH CHINA
Leading signal — 7-day ballast-pull -10% (ballast interest thinning here (softening)). Busiest lanes out — NORTH CHINA→WEST INDONESIA (6 voyages, ~$16615/day).
SWEDEN
Leading signal — 7-day ballast-pull +100% (empty ships building toward this load zone (firming)). Busiest lanes out — SWEDEN→USEC (4 voyages, ~$9167/day).
30-47K — ~$11563/day ($-996 d/d); 96 voyages, 20708476 kt-miles tracked
Momentum: +11% vs balanced, -1.4% day, -15.0% week (relative to a balanced market).
NEW ZEALAND
Leading signal — 7-day ballast-pull +25% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Tauranga (PAI 5.9). Busiest lanes out — NEW ZEALAND→NORTH CHINA (26 voyages, ~$11042/day); NEW ZEALAND→SOUTH KOREA (7 voyages, ~$11042/day).
NORTH ARGENTINA
Leading signal — 7-day ballast-pull +10% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: San Lorenzo (PAI 22.2), Rosario (PAI 7.7), La Plata (PAI 5.9). Busiest lanes out — NORTH ARGENTINA→MOROCCO (10 voyages, ~$15361/day); NORTH ARGENTINA→ALGERIA (8 voyages, ~$15361/day).
EAST SOUTH AFRICA
Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Load hubs where cargo is concentrating: Durban (PAI 5.0). Busiest lanes out — EAST SOUTH AFRICA→USEC (7 voyages, ~$8767/day).
WEST AUSTRALIA
Leading signal — 7-day ballast-pull +25% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Bunbury (PAI 5.3). Busiest lanes out — WEST AUSTRALIA→NORTH CHINA (12 voyages, ~$11042/day).
UNITED STATES PACIFIC
Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Busiest lanes out — UNITED STATES PACIFIC→SOUTH JAPAN (8 voyages, ~$7144/day).
47-55K — ~$18590/day ($-1064 d/d); 178 voyages, 8941790 kt-miles tracked
Momentum: +87% vs balanced, -1.4% day, -1.8% week (relative to a balanced market).
NORTH CHINA
Leading signal — 7-day ballast-pull -20% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Caofeidian (PAI 11.4), Huanghua (PAI 10.2), Qinhuangdao (PAI 9.5). Busiest lanes out — NORTH CHINA→MID CHINA (68 voyages, ~$21264/day); NORTH CHINA→COTE D IVOIRE (2 voyages, ~$21264/day); NORTH CHINA→NORTH CHINA (62 voyages, ~$21264/day).
EAST INDONESIA
Leading signal — 7-day ballast-pull -24% (ballast interest thinning here (softening)). Busiest lanes out — EAST INDONESIA→WEST INDONESIA (12 voyages, ~$19820/day); EAST INDONESIA→COMORES ISLANDS (2 voyages, ~$19820/day).
PHILIPPINES
Leading signal — 7-day ballast-pull -24% (ballast interest thinning here (softening)). Busiest lanes out — PHILIPPINES→NORTH CHINA (12 voyages, ~$19820/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull +9% (empty ships building toward this load zone (firming)). Busiest lanes out — SOUTH BRAZIL→SOUTH CHINA (2 voyages, ~$12021/day).
WEST INDONESIA
Leading signal — 7-day ballast-pull -24% (ballast interest thinning here (softening)). Busiest lanes out — WEST INDONESIA→EAST INDONESIA (13 voyages, ~$19820/day).
55-68K — ~$17986/day ($-636 d/d); 100 voyages, 34970124 kt-miles tracked
Momentum: +58% vs balanced, -2.7% day, -9.2% week (relative to a balanced market).
NORTH CHINA
Leading signal — 7-day ballast-pull +13% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Tianjin (PAI 13.7), Caofeidian (PAI 10.7), Lianyungang (PAI 8.6). Busiest lanes out — NORTH CHINA→PERU (7 voyages, ~$21687/day); NORTH CHINA→MEXICO (6 voyages, ~$21687/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull -12% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Santos (PAI 13.4). Busiest lanes out — SOUTH BRAZIL→BANGLADESH (7 voyages, ~$18729/day); SOUTH BRAZIL→USEC (11 voyages, ~$18729/day).
USEC
Leading signal — 7-day ballast-pull +4% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: New Orleans (PAI 8.3), Houston (PAI 5.5). Busiest lanes out — USEC→EGYPT MED (9 voyages, ~$20206/day); USEC→SOUTH JAPAN (6 voyages, ~$20206/day).
EAST SOUTH AFRICA
Leading signal — 7-day ballast-pull +2% (ballast interest broadly steady). Load hubs where cargo is concentrating: Durban (PAI 7.5), Richards Bay (PAI 6.5), Coega (PAI 5.2). Busiest lanes out — EAST SOUTH AFRICA→NORTH CHINA (11 voyages, ~$15358/day).
PERU
Leading signal — 7-day ballast-pull +28% (empty ships building toward this load zone (firming)). Busiest lanes out — PERU→NORTH CHINA (7 voyages, ~$10455/day).
68-90K — ~$22312/day ($-2718 d/d); 296 voyages, 72020452 kt-miles tracked
Momentum: +100% vs balanced, -2.8% day, -10.5% week (relative to a balanced market).
EAST AUSTRALIA
Leading signal — 7-day ballast-pull -11% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Newcastle (PAI 18.8). Busiest lanes out — EAST AUSTRALIA→SOUTH JAPAN (29 voyages, ~$23983/day); EAST AUSTRALIA→SOUTH CHINA (25 voyages, ~$23983/day).
UNITED STATES PACIFIC
Leading signal — 7-day ballast-pull +8% (empty ships building toward this load zone (firming)). Busiest lanes out — UNITED STATES PACIFIC→SOUTH JAPAN (19 voyages, ~$16353/day); UNITED STATES PACIFIC→SOUTH KOREA (16 voyages, ~$16353/day).
WEST INDONESIA
Leading signal — 7-day ballast-pull +2% (ballast interest broadly steady). Load hubs where cargo is concentrating: Taboneo Anch (PAI 8.9), Bunati (PAI 6.9). Busiest lanes out — WEST INDONESIA→SOUTH CHINA (61 voyages, ~$24918/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull +10% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Santos (PAI 22.4), Paranagua (PAI 9.3), Tubarao (PAI 4.5). Busiest lanes out — SOUTH BRAZIL→NORTH CHINA (7 voyages, ~$22233/day).
NORTH CHINA
Leading signal — 7-day ballast-pull +7% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Caofeidian (PAI 9.9), Huanghua (PAI 8.2), Jingtang (PAI 6.3). Busiest lanes out — NORTH CHINA→SOUTH CHINA (74 voyages, ~$24918/day).
90-120K — ~$27940/day ($-1668 d/d); 91 voyages, 37363221 kt-miles tracked
Momentum: +100% vs balanced, -4.7% day, -13.4% week (relative to a balanced market).
NORTH AUSTRALIA
Leading signal — 7-day ballast-pull -6% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Gladstone (PAI 6.0), Hay Point (PAI 5.2), Port Hedland (PAI 4.7). Busiest lanes out — NORTH AUSTRALIA→NORTH CHINA (17 voyages, ~$30178/day); NORTH AUSTRALIA→SOUTH JAPAN (11 voyages, ~$30178/day); NORTH AUSTRALIA→MID CHINA (9 voyages, ~$30178/day).
EAST AUSTRALIA
Leading signal — 7-day ballast-pull -6% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Newcastle (PAI 11.9). Busiest lanes out — EAST AUSTRALIA→SOUTH JAPAN (13 voyages, ~$30178/day); EAST AUSTRALIA→NORTH JAPAN (8 voyages, ~$30178/day); EAST AUSTRALIA→TAIWAN (9 voyages, ~$30178/day).
USEC
Leading signal — 7-day ballast-pull +25% (empty ships building toward this load zone (firming)). Busiest lanes out — USEC→EC INDIA (3 voyages, ~$13467/day).
WC CANADA
Leading signal — 7-day ballast-pull -80% (ballast interest thinning here (softening)). Busiest lanes out — WC CANADA→NORTH JAPAN (5 voyages, ~$9941/day).
120-190K — ~$33903/day ($+1272 d/d); 257 voyages, 193747647 kt-miles tracked
Momentum: +101% vs balanced, -1.1% day, -13.3% week (relative to a balanced market).
NORTH AUSTRALIA
Leading signal — 7-day ballast-pull -10% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Port Hedland (PAI 30.4), Dampier (PAI 11.9), Port Walcott (PAI 11.8). Busiest lanes out — NORTH AUSTRALIA→NORTH CHINA (126 voyages, ~$37717/day); NORTH AUSTRALIA→MID CHINA (40 voyages, ~$37717/day); NORTH AUSTRALIA→SOUTH CHINA (35 voyages, ~$37717/day).
PERU
Busiest lanes out — PERU→NORTH CHINA (8 voyages, ~$12302/day).
GUINEA
Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Load hubs where cargo is concentrating: Bel Air Tsz (PAI 5.0). Busiest lanes out — GUINEA→NORTH CHINA (8 voyages, ~$17095/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull +3% (ballast interest broadly steady). Load hubs where cargo is concentrating: Itaguai (PAI 5.0). Busiest lanes out — SOUTH BRAZIL→NORTH CHINA (3 voyages, ~$26762/day); SOUTH BRAZIL→SOUTH CHINA (3 voyages, ~$26762/day).
EAST AUSTRALIA
Leading signal — 7-day ballast-pull -10% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Newcastle (PAI 6.4). Busiest lanes out — EAST AUSTRALIA→SOUTH KOREA (7 voyages, ~$37717/day).
190-250K — ~$38520/day ($-1656 d/d); 192 voyages, 179058997 kt-miles tracked
Momentum: +112% vs balanced, -0.6% day, -8.8% week (relative to a balanced market).
NORTH AUSTRALIA
Leading signal — 7-day ballast-pull +3% (ballast interest broadly steady). Load hubs where cargo is concentrating: Port Hedland (PAI 22.8), Port Walcott (PAI 5.4). Busiest lanes out — NORTH AUSTRALIA→NORTH CHINA (85 voyages, ~$43376/day); NORTH AUSTRALIA→SOUTH JAPAN (27 voyages, ~$43376/day); NORTH AUSTRALIA→MID CHINA (19 voyages, ~$43376/day).
GUINEA
Leading signal — 7-day ballast-pull +38% (empty ships building toward this load zone (firming)). Busiest lanes out — GUINEA→NORTH CHINA (13 voyages, ~$27835/day); GUINEA→EC INDIA (5 voyages, ~$27835/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull +9% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Itaguai (PAI 5.0). Busiest lanes out — SOUTH BRAZIL→NORTH CHINA (9 voyages, ~$32759/day).
NORTH CHILE
Leading signal — 7-day ballast-pull -20% (ballast interest thinning here (softening)). Busiest lanes out — NORTH CHILE→NORTH CHINA (3 voyages, ~$14033/day).
EAST AUSTRALIA
Leading signal — 7-day ballast-pull +3% (ballast interest broadly steady). Busiest lanes out — EAST AUSTRALIA→SOUTH JAPAN (6 voyages, ~$43376/day).
Outlook (forward view)
Looking ahead, based on momentum indicators and forward signals, there's a likelihood that the dry-bulk freight market will continue to experience downward pressure over the coming days and weeks. The week-over-week momentum is negative across most size segments, with notable declines in the 17.5-30K and 30-47K bands. Day-over-day momentum also shows softening in several key segments. Furthermore, the 7-day ballast-pull trend indicates decreasing interest in certain load zones, which could presage further rate weakening.
Given these indicators, a scenario where rates firm is less likely unless there's a significant uptick in demand or a reduction in available tonnage. Bands with stronger vs-balanced positioning and positive week-over-week momentum might offer some resistance to the overall downtrend, but this would require sustained demand growth. The world port/sea ratio below 1.0 and a relatively stable LSR suggest that, without significant changes in global trade patterns or fleet deployment, rates may remain under pressure. This outlook is based on current market signals and momentum analysis; actual outcomes can vary due to unforeseen changes in supply, demand, or other market factors.