Dry-bulk freight market sees mixed signals with DBPI easing, Kamsarmax firming on North Australia to North China demand.
Global supply & demand
The DBPI pressure index has softened to 2250.4, a decrease of 139 from the previous day, indicating a neutral market tone. The global LSR (laden sailing ratio) remains steady at 58%, suggesting that open tonnage is balanced with demand. However, the laden-vs-ballast split shows a slight bias towards ballast, with 370M dwt laden and 266M dwt in ballast, which could point to easing pressure on rates. The world port/sea ratio of 0.54 also suggests that there is more tonnage sailing than tied up in ports, further supporting the notion of balanced supply and demand.
Notably, Kamsarmax vessels are experiencing firmness, particularly on routes from North Australia to North China, which could be a sign of strengthening demand in this segment. Handysize vessels, on the other hand, appear to be the softest, with rates at +11% vs balanced, indicating potential downward pressure.
The overall trajectory of the market appears to be stable, with no significant imbalances in supply and demand. However, the DBPI's day-over-day decrease and the slight bias towards ballast tonnage suggest that the market may be due for a correction or stabilization after recent gains.
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 — ~$4795/day ($-216 d/d); 2764 voyages, 5035233 kt-miles tracked
Momentum: +39% vs balanced, -2.4% day, -20.8% week (relative to a balanced market).
SOUTH NORWAY — ~$7138/day
Supply/demand — 15 ships open (~55k dwt); inbound ballast 14 vs laden 38; ballast-share 33%; demand-pull rel 1.47; scarcity 1.30. Leading signal — 7-day ballast-pull -12% (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 (54 voyages, ~$6388/day); SOUTH NORWAY→SOUTH NORWAY (118 voyages, ~$6388/day); SOUTH NORWAY→DENMARK (52 voyages, ~$6388/day).
NETHERLANDS — ~$6510/day
Supply/demand — 33 ships open (~117k dwt); inbound ballast 13 vs laden 31; ballast-share 33%; demand-pull rel 1.34; scarcity 1.19. Leading signal — 7-day ballast-pull +30% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Rotterdam Maasvlakte (PAI 12.0), Rotterdam Waalhaven (PAI 9.3), Vlissingen (PAI 8.3). Busiest lanes out — NETHERLANDS→SPAIN (23 voyages, ~$6383/day); NETHERLANDS→SWEDEN (26 voyages, ~$6383/day); NETHERLANDS→SOUTH NORWAY (23 voyages, ~$6383/day).
RUSSIA — ~$5707/day
Supply/demand — 27 ships open (~90k dwt); inbound ballast 79 vs laden 95; ballast-share 47%; demand-pull rel 1.17; scarcity 0.73. Leading signal — 7-day ballast-pull +5% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Astrakhan (PAI 8.4), Rostov-On-Don (PAI 6.5), Azov (PAI 4.7). Busiest lanes out — RUSSIA→IRAN (20 voyages, ~$6479/day); RUSSIA→WEST TURKEY (16 voyages, ~$6479/day); RUSSIA→RUSSIA (61 voyages, ~$6479/day).
GERMANY — ~$7781/day
Supply/demand — 16 ships open (~61k dwt); inbound ballast 21 vs laden 19; ballast-share 48%; demand-pull rel 1.60; scarcity 1.28. Leading signal — 7-day ballast-pull +17% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Hamburg (PAI 21.7), Rostock (PAI 16.0), Brake (PAI 9.7). Busiest lanes out — GERMANY→SOUTH NORWAY (30 voyages, ~$5517/day); GERMANY→NORTH UNITED KINGDOM (25 voyages, ~$5517/day); GERMANY→GERMANY (48 voyages, ~$5517/day).
SWEDEN — ~$7162/day
Supply/demand — 10 ships open (~39k dwt); inbound ballast 11 vs laden 21; ballast-share 34%; demand-pull rel 1.47; scarcity 1.30. Leading signal — 7-day ballast-pull +10% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Oxelosund (PAI 5.1). Busiest lanes out — SWEDEN→SOUTH UNITED KINGDOM (14 voyages, ~$4979/day); SWEDEN→GERMANY (25 voyages, ~$4979/day); SWEDEN→SWEDEN (47 voyages, ~$4979/day).
5-10K — ~$6400/day ($+17 d/d); 1784 voyages, 9723821 kt-miles tracked
Momentum: +20% vs balanced, -2.8% day, -16.6% week (relative to a balanced market).
RUSSIA — ~$10214/day
Supply/demand — 26 ships open (~178k dwt); inbound ballast 101 vs laden 34; ballast-share 71%; demand-pull rel 1.59; scarcity 0.72. Leading signal — 7-day ballast-pull -2% (ballast interest broadly steady). Load hubs where cargo is concentrating: Rostov-On-Don (PAI 7.1). Busiest lanes out — RUSSIA→NORTH TURKEY (38 voyages, ~$9539/day); RUSSIA→WEST TURKEY (21 voyages, ~$9539/day); RUSSIA→IRAN (8 voyages, ~$9539/day).
SOUTH NORWAY — ~$4810/day
Supply/demand — 7 ships open (~44k dwt); inbound ballast 3 vs laden 11; ballast-share 35%; demand-pull rel 0.75; scarcity 1.30. Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Load hubs where cargo is concentrating: Rafnes (PAI 5.5), Porsgrunn (PAI 4.5). Busiest lanes out — SOUTH NORWAY→GERMANY (35 voyages, ~$7591/day); SOUTH NORWAY→NETHERLANDS (19 voyages, ~$7591/day); SOUTH NORWAY→DENMARK (31 voyages, ~$7591/day).
VIETNAM — ~$7260/day
Supply/demand — 19 ships open (~143k dwt); inbound ballast 9 vs laden 17; ballast-share 38%; demand-pull rel 1.13; scarcity 1.02. Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Load hubs where cargo is concentrating: Ho Chi Minh (PAI 6.0). Busiest lanes out — VIETNAM→PHILIPPINES (23 voyages, ~$8247/day); VIETNAM→SOUTH KOREA (5 voyages, ~$8247/day); VIETNAM→FRANCE (1 voyages, ~$8247/day).
SOUTH JAPAN — ~$6633/day
Supply/demand — 16 ships open (~105k dwt); inbound ballast 7 vs laden 15; ballast-share 38%; demand-pull rel 1.03; scarcity 1.08. Leading signal — 7-day ballast-pull -42% (ballast interest thinning here (softening)). Busiest lanes out — SOUTH JAPAN→PHILIPPINES (6 voyages, ~$7845/day); SOUTH JAPAN→THAILAND (3 voyages, ~$7845/day); SOUTH JAPAN→SOUTH KOREA (22 voyages, ~$7845/day).
SWEDEN — ~$9108/day
Supply/demand — 6 ships open (~44k dwt); inbound ballast 10 vs laden 20; ballast-share 36%; demand-pull rel 1.42; scarcity 1.30. Leading signal — 7-day ballast-pull +25% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Goteborg (PAI 7.3), Oxelosund (PAI 5.9). Busiest lanes out — SWEDEN→SPAIN (9 voyages, ~$8357/day); SWEDEN→NETHERLANDS (17 voyages, ~$8357/day); SWEDEN→SWEDEN (46 voyages, ~$8357/day).
10-17.5K — ~$9314/day ($-372 d/d); 627 voyages, 14590818 kt-miles tracked
Momentum: +33% vs balanced, -0.9% day, -7.5% week (relative to a balanced market).
SOUTH JAPAN — ~$12752/day
Supply/demand — 25 ships open (~338k dwt); inbound ballast 21 vs laden 18; ballast-share 50%; demand-pull rel 1.44; scarcity 0.99. Leading signal — 7-day ballast-pull -9% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Kobe (PAI 5.2), Fukuyama (PAI 4.9). Busiest lanes out — SOUTH JAPAN→THAILAND (15 voyages, ~$12772/day); SOUTH JAPAN→VIETNAM (12 voyages, ~$12772/day); SOUTH JAPAN→WEST INDONESIA (7 voyages, ~$12772/day).
WEST INDONESIA — ~$14169/day
Supply/demand — 10 ships open (~129k dwt); inbound ballast 12 vs laden 11; ballast-share 48%; demand-pull rel 1.60; scarcity 1.16. Leading signal — 7-day ballast-pull +71% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Jakarta (PAI 4.5). Busiest lanes out — WEST INDONESIA→NORTH CHINA (8 voyages, ~$12252/day); WEST INDONESIA→SOUTH JAPAN (6 voyages, ~$12252/day); WEST INDONESIA→NORTH JAPAN (3 voyages, ~$12252/day).
USEC — ~$13592/day
Supply/demand — 8 ships open (~129k dwt); inbound ballast 14 vs laden 13; ballast-share 48%; demand-pull rel 1.53; scarcity 1.08. Leading signal — 7-day ballast-pull +17% (empty ships building toward this load zone (firming)). Busiest lanes out — USEC→SOUTH KOREA (2 voyages, ~$13500/day); USEC→NORTH AUSTRALIA (1 voyages, ~$13500/day); USEC→SAUDI ARABIA (1 voyages, ~$13500/day).
NORTH CHINA — ~$11468/day
Supply/demand — 19 ships open (~250k dwt); inbound ballast 10 vs laden 8; ballast-share 49%; demand-pull rel 1.29; scarcity 0.90. Leading signal — 7-day ballast-pull +43% (empty ships building toward this load zone (firming)). Busiest lanes out — NORTH CHINA→EAST INDONESIA (6 voyages, ~$11551/day); NORTH CHINA→WEST INDONESIA (4 voyages, ~$11551/day); NORTH CHINA→VENEZUELA (1 voyages, ~$11551/day).
VIETNAM — ~$11174/day
Supply/demand — 11 ships open (~150k dwt); inbound ballast 7 vs laden 14; ballast-share 40%; demand-pull rel 1.26; scarcity 1.08. Leading signal — 7-day ballast-pull -30% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Ho Chi Minh (PAI 4.7). Busiest lanes out — VIETNAM→SOUTH JAPAN (5 voyages, ~$13500/day); VIETNAM→NORTH CHINA (5 voyages, ~$13500/day); VIETNAM→PHILIPPINES (7 voyages, ~$13500/day).
17.5-30K — ~$12344/day ($+779 d/d); 35 voyages, 3528648 kt-miles tracked
Momentum: +43% vs balanced, -0.7% day, -22.3% 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, ~$11081/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull +11% (empty ships building toward this load zone (firming)). Busiest lanes out — SOUTH BRAZIL→GAMBIA (3 voyages, ~$7220/day); SOUTH BRAZIL→SPAIN MED (2 voyages, ~$7220/day).
USEC
Leading signal — 7-day ballast-pull +27% (empty ships building toward this load zone (firming)). Busiest lanes out — USEC→WEST INDONESIA (2 voyages, ~$13470/day).
NORTH CHINA
Leading signal — 7-day ballast-pull -3% (ballast interest broadly steady). Busiest lanes out — NORTH CHINA→WEST INDONESIA (7 voyages, ~$16425/day).
SWEDEN
Leading signal — 7-day ballast-pull +100% (empty ships building toward this load zone (firming)). Busiest lanes out — SWEDEN→USEC (4 voyages, ~$11081/day).
30-47K — ~$11539/day ($-24 d/d); 98 voyages, 20697594 kt-miles tracked
Momentum: +11% vs balanced, -1.1% day, -24.1% week (relative to a balanced market).
NEW ZEALAND
Leading signal — 7-day ballast-pull +18% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Tauranga (PAI 5.8). Busiest lanes out — NEW ZEALAND→NORTH CHINA (23 voyages, ~$11531/day); NEW ZEALAND→SOUTH KOREA (7 voyages, ~$11531/day).
NORTH ARGENTINA
Leading signal — 7-day ballast-pull +12% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: San Lorenzo (PAI 22.8), La Plata (PAI 7.7), Rosario (PAI 6.2). Busiest lanes out — NORTH ARGENTINA→MOROCCO (10 voyages, ~$16404/day); NORTH ARGENTINA→ALGERIA (9 voyages, ~$16404/day).
WC CANADA
Leading signal — 7-day ballast-pull +38% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Vancouver (PAI 7.8). Busiest lanes out — WC CANADA→SOUTH JAPAN (10 voyages, ~$6811/day).
EAST SOUTH AFRICA
Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Busiest lanes out — EAST SOUTH AFRICA→USEC (6 voyages, ~$7932/day).
UNITED STATES PACIFIC
Leading signal — 7-day ballast-pull +38% (empty ships building toward this load zone (firming)). Busiest lanes out — UNITED STATES PACIFIC→SOUTH JAPAN (10 voyages, ~$6811/day).
47-55K — ~$18927/day ($+337 d/d); 185 voyages, 9028472 kt-miles tracked
Momentum: +93% vs balanced, +0.7% day, -11.5% week (relative to a balanced market).
NORTH CHINA
Leading signal — 7-day ballast-pull -35% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Caofeidian (PAI 11.9), Huanghua (PAI 10.6), Qinhuangdao (PAI 9.4). Busiest lanes out — NORTH CHINA→MID CHINA (76 voyages, ~$21247/day); NORTH CHINA→COTE D IVOIRE (2 voyages, ~$21247/day); NORTH CHINA→NORTH CHINA (62 voyages, ~$21247/day).
EAST INDONESIA
Leading signal — 7-day ballast-pull -3% (ballast interest broadly steady). Busiest lanes out — EAST INDONESIA→WEST INDONESIA (13 voyages, ~$21247/day); EAST INDONESIA→COMORES ISLANDS (2 voyages, ~$21247/day).
PHILIPPINES
Leading signal — 7-day ballast-pull -3% (ballast interest broadly steady). Busiest lanes out — PHILIPPINES→NORTH CHINA (12 voyages, ~$21247/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull +8% (empty ships building toward this load zone (firming)). Busiest lanes out — SOUTH BRAZIL→SOUTH CHINA (2 voyages, ~$15084/day).
WEST INDONESIA
Leading signal — 7-day ballast-pull -3% (ballast interest broadly steady). Busiest lanes out — WEST INDONESIA→EAST INDONESIA (13 voyages, ~$21247/day).
55-68K — ~$17260/day ($-726 d/d); 106 voyages, 36118606 kt-miles tracked
Momentum: +53% vs balanced, -1.5% day, -11.6% week (relative to a balanced market).
NORTH CHINA
Leading signal — 7-day ballast-pull +2% (ballast interest broadly steady). Load hubs where cargo is concentrating: Tianjin (PAI 13.5), Caofeidian (PAI 11.0), Lianyungang (PAI 8.9). Busiest lanes out — NORTH CHINA→PERU (8 voyages, ~$21266/day); NORTH CHINA→MEXICO (7 voyages, ~$21266/day).
EAST SOUTH AFRICA
Leading signal — 7-day ballast-pull -6% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Durban (PAI 7.0), Richards Bay (PAI 6.5), Port Elizabeth (PAI 4.6). Busiest lanes out — EAST SOUTH AFRICA→NORTH CHINA (11 voyages, ~$16631/day); EAST SOUTH AFRICA→PAKISTAN (10 voyages, ~$16631/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull -20% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Santos (PAI 14.4). Busiest lanes out — SOUTH BRAZIL→BANGLADESH (7 voyages, ~$15910/day); SOUTH BRAZIL→USEC (12 voyages, ~$15910/day).
PERU
Leading signal — 7-day ballast-pull +64% (empty ships building toward this load zone (firming)). Busiest lanes out — PERU→NORTH CHINA (7 voyages, ~$10511/day).
PHILIPPINES
Leading signal — 7-day ballast-pull +12% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Surigao (PAI 8.6). Busiest lanes out — PHILIPPINES→NORTH CHINA (29 voyages, ~$23594/day).
68-90K — ~$20953/day ($-1359 d/d); 316 voyages, 77131544 kt-miles tracked
Momentum: +89% vs balanced, -3.0% day, -23.0% week (relative to a balanced market).
EAST AUSTRALIA
Leading signal — 7-day ballast-pull -14% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Newcastle (PAI 19.6). Busiest lanes out — EAST AUSTRALIA→SOUTH JAPAN (31 voyages, ~$21242/day); EAST AUSTRALIA→SOUTH CHINA (25 voyages, ~$21242/day).
UNITED STATES PACIFIC
Leading signal — 7-day ballast-pull +13% (empty ships building toward this load zone (firming)). Busiest lanes out — UNITED STATES PACIFIC→SOUTH JAPAN (19 voyages, ~$14310/day); UNITED STATES PACIFIC→SOUTH KOREA (18 voyages, ~$14310/day).
WEST INDONESIA
Leading signal — 7-day ballast-pull +3% (ballast interest broadly steady). Load hubs where cargo is concentrating: Taboneo Anch (PAI 9.6), Bunati (PAI 7.4), Tanjung Pemancingan (PAI 4.7). Busiest lanes out — WEST INDONESIA→SOUTH CHINA (64 voyages, ~$24896/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull +4% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Santos (PAI 25.4), Paranagua (PAI 8.7), Tubarao (PAI 4.7). Busiest lanes out — SOUTH BRAZIL→NORTH CHINA (8 voyages, ~$21852/day).
USEC
Leading signal — 7-day ballast-pull +7% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Norfolk (PAI 5.4). Busiest lanes out — USEC→WC INDIA (10 voyages, ~$21521/day).
90-120K — ~$29092/day ($+1152 d/d); 98 voyages, 39100030 kt-miles tracked
Momentum: +117% vs balanced, -0.9% day, -5.8% week (relative to a balanced market).
NORTH AUSTRALIA
Leading signal — 7-day ballast-pull -4% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Gladstone (PAI 6.3), Hay Point (PAI 5.7), Port Hedland (PAI 5.4). Busiest lanes out — NORTH AUSTRALIA→NORTH CHINA (18 voyages, ~$30171/day); NORTH AUSTRALIA→SOUTH JAPAN (11 voyages, ~$30171/day); NORTH AUSTRALIA→MID CHINA (10 voyages, ~$30171/day).
EAST AUSTRALIA
Leading signal — 7-day ballast-pull -4% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Newcastle (PAI 11.2). Busiest lanes out — EAST AUSTRALIA→SOUTH JAPAN (14 voyages, ~$30171/day); EAST AUSTRALIA→NORTH JAPAN (8 voyages, ~$30171/day); EAST AUSTRALIA→TAIWAN (9 voyages, ~$30171/day).
USEC
Leading signal — 7-day ballast-pull -17% (ballast interest thinning here (softening)). Busiest lanes out — USEC→EC INDIA (3 voyages, ~$13409/day).
120-190K — ~$29631/day ($-4272 d/d); 270 voyages, 202192140 kt-miles tracked
Momentum: +78% vs balanced, +2.1% day, -22.3% week (relative to a balanced market).
NORTH AUSTRALIA
Leading signal — 7-day ballast-pull +5% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Port Hedland (PAI 31.5), Dampier (PAI 11.7), Port Walcott (PAI 11.6). Busiest lanes out — NORTH AUSTRALIA→NORTH CHINA (133 voyages, ~$32233/day); NORTH AUSTRALIA→MID CHINA (40 voyages, ~$32233/day); NORTH AUSTRALIA→SOUTH CHINA (41 voyages, ~$32233/day).
GUINEA
Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Load hubs where cargo is concentrating: Bel Air Tsz (PAI 5.2). Busiest lanes out — GUINEA→NORTH CHINA (9 voyages, ~$16391/day).
PERU
Busiest lanes out — PERU→NORTH CHINA (7 voyages, ~$12293/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull +3% (ballast interest broadly steady). Load hubs where cargo is concentrating: Itaguai (PAI 5.2). Busiest lanes out — SOUTH BRAZIL→NORTH CHINA (3 voyages, ~$26738/day); SOUTH BRAZIL→SOUTH CHINA (3 voyages, ~$26738/day).
EAST AUSTRALIA
Leading signal — 7-day ballast-pull +5% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Newcastle (PAI 7.7). Busiest lanes out — EAST AUSTRALIA→SOUTH KOREA (7 voyages, ~$32233/day).
190-250K — ~$37287/day ($-1233 d/d); 199 voyages, 184755115 kt-miles tracked
Momentum: +108% vs balanced, -0.8% day, -10.0% week (relative to a balanced market).
NORTH AUSTRALIA
Leading signal — 7-day ballast-pull +14% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Port Hedland (PAI 23.9), Port Walcott (PAI 5.9). Busiest lanes out — NORTH AUSTRALIA→NORTH CHINA (91 voyages, ~$43356/day); NORTH AUSTRALIA→SOUTH JAPAN (29 voyages, ~$43356/day); NORTH AUSTRALIA→MID CHINA (17 voyages, ~$43356/day).
GUINEA
Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Busiest lanes out — GUINEA→NORTH CHINA (14 voyages, ~$20094/day); GUINEA→EC INDIA (6 voyages, ~$20094/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Load hubs where cargo is concentrating: Itaguai (PAI 5.2). Busiest lanes out — SOUTH BRAZIL→NORTH CHINA (8 voyages, ~$34005/day).
NORTH CHILE
Leading signal — 7-day ballast-pull +33% (empty ships building toward this load zone (firming)). Busiest lanes out — NORTH CHILE→NORTH CHINA (3 voyages, ~$14027/day).
EAST AUSTRALIA
Leading signal — 7-day ballast-pull +14% (empty ships building toward this load zone (firming)). Busiest lanes out — EAST AUSTRALIA→SOUTH JAPAN (6 voyages, ~$43356/day).
Outlook (forward view)
Looking ahead, the market is expected to see mixed signals, with some segments firming while others soften. The 7-day ballast-pull trend indicates empty ships building toward load zones in regions like West Indonesia and North China, which could lead to firming rates in these areas. Conversely, thinning ballast interest in South Japan and East South Africa may result in softening demand.
Based on the momentum indicators, the market is likely to remain range-bound, with some bands showing stronger signals than others. The 17.5-30K and 47-55K segments appear to be firming, driven by increasing ballast-pull and vs-balanced positioning. In contrast, the 0-5K and 55-68K segments may soften due to decreasing ballast-pull and easing supply/demand pressure.
This outlook is based on a model-and-momentum scenario read and should not be taken as investment or trading advice. The dry-bulk freight market is inherently volatile, and actual outcomes may differ from these projections.