Dry-bulk freight market firmed slightly in some tonnage bands, but overall sentiment remains cautious amid mixed demand signals.
Global supply & demand
The DBPI pressure index decreased to 2110.7, down 140 points day-over-day, indicating a slight easing of pressure on the global dry-bulk market. The laden sailing ratio (LSR) held steady at 58%, reflecting a relatively balanced fleet deployment. However, the world port/sea ratio remains below 1.0 at 0.52, suggesting that more tonnage is currently at sea than in ports or anchorages, which could support freight rates. Notably, Kamsarmax vessels are seeing firm demand, particularly on routes from North Australia to North China.
The split between laden and ballast tonnage stands at 374 million dwt laden versus 271 million dwt ballast, indicating that while there is still a significant amount of open tonnage, the market is not overly awash with supply. Handysize vessels are experiencing softer demand, in contrast to the firmer Kamsarmax segment.
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 — ~$4644/day ($-151 d/d); 2712 voyages, 4956545 kt-miles tracked
Momentum: +37% vs balanced, -3.6% day, -17.8% week (relative to a balanced market).
SOUTH NORWAY — ~$7147/day
Supply/demand — 18 ships open (~62k dwt); inbound ballast 14 vs laden 41; ballast-share 30%; demand-pull rel 1.39; scarcity 1.30. Leading signal — 7-day ballast-pull +8% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Floro (PAI 6.8), Rekefjord (PAI 6.2), Husoya (PAI 5.6). Busiest lanes out — SOUTH NORWAY→GERMANY (52 voyages, ~$5860/day); SOUTH NORWAY→DENMARK (52 voyages, ~$5860/day); SOUTH NORWAY→SOUTH NORWAY (108 voyages, ~$5860/day).
NETHERLANDS — ~$5030/day
Supply/demand — 44 ships open (~153k dwt); inbound ballast 8 vs laden 32; ballast-share 28%; demand-pull rel 0.98; scarcity 1.20. Leading signal — 7-day ballast-pull +33% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Rotterdam Maasvlakte (PAI 12.2), Rotterdam Waalhaven (PAI 9.2), Vlissingen (PAI 8.2). Busiest lanes out — NETHERLANDS→SPAIN (21 voyages, ~$5410/day); NETHERLANDS→SWEDEN (25 voyages, ~$5410/day); NETHERLANDS→SOUTH NORWAY (22 voyages, ~$5410/day).
RUSSIA — ~$6511/day
Supply/demand — 27 ships open (~90k dwt); inbound ballast 79 vs laden 96; ballast-share 46%; demand-pull rel 1.27; scarcity 0.77. Leading signal — 7-day ballast-pull +4% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Astrakhan (PAI 8.3), Rostov-On-Don (PAI 6.3), Azov (PAI 4.7). Busiest lanes out — RUSSIA→IRAN (20 voyages, ~$6190/day); RUSSIA→WEST TURKEY (16 voyages, ~$6190/day); RUSSIA→RUSSIA (61 voyages, ~$6190/day).
GERMANY — ~$7570/day
Supply/demand — 27 ships open (~100k dwt); inbound ballast 12 vs laden 27; ballast-share 32%; demand-pull rel 1.47; scarcity 1.30. Leading signal — 7-day ballast-pull -29% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Hamburg (PAI 21.4), Rostock (PAI 15.9), Brake (PAI 9.6). Busiest lanes out — GERMANY→SOUTH NORWAY (29 voyages, ~$5975/day); GERMANY→NORTH UNITED KINGDOM (24 voyages, ~$5975/day); GERMANY→SOUTH UNITED KINGDOM (19 voyages, ~$5975/day).
SWEDEN — ~$8221/day
Supply/demand — 6 ships open (~23k dwt); inbound ballast 15 vs laden 22; ballast-share 38%; demand-pull rel 1.60; scarcity 1.30. Leading signal — 7-day ballast-pull -12% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Oxelosund (PAI 5.4), Ahus (PAI 4.7). Busiest lanes out — SWEDEN→GERMANY (25 voyages, ~$4670/day); SWEDEN→SOUTH UNITED KINGDOM (13 voyages, ~$4670/day); SWEDEN→SWEDEN (45 voyages, ~$4670/day).
5-10K — ~$6107/day ($-293 d/d); 1767 voyages, 9691117 kt-miles tracked
Momentum: +14% vs balanced, -3.4% day, -19.9% week (relative to a balanced market).
RUSSIA — ~$10216/day
Supply/demand — 26 ships open (~178k dwt); inbound ballast 101 vs laden 34; ballast-share 71%; demand-pull rel 1.60; scarcity 0.74. Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Load hubs where cargo is concentrating: Rostov-On-Don (PAI 7.1). Busiest lanes out — RUSSIA→NORTH TURKEY (38 voyages, ~$9117/day); RUSSIA→WEST TURKEY (21 voyages, ~$9117/day); RUSSIA→IRAN (8 voyages, ~$9117/day).
SOUTH NORWAY — ~$7436/day
Supply/demand — 8 ships open (~54k dwt); inbound ballast 6 vs laden 11; ballast-share 40%; demand-pull rel 1.17; scarcity 1.30. Leading signal — 7-day ballast-pull -14% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Rafnes (PAI 5.5). Busiest lanes out — SOUTH NORWAY→GERMANY (37 voyages, ~$6288/day); SOUTH NORWAY→DENMARK (31 voyages, ~$6288/day); SOUTH NORWAY→NETHERLANDS (18 voyages, ~$6288/day).
VIETNAM — ~$7106/day
Supply/demand — 19 ships open (~143k dwt); inbound ballast 9 vs laden 17; ballast-share 38%; demand-pull rel 1.11; scarcity 1.04. Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Load hubs where cargo is concentrating: Ho Chi Minh (PAI 5.7). Busiest lanes out — VIETNAM→PHILIPPINES (22 voyages, ~$7694/day); VIETNAM→SOUTH KOREA (5 voyages, ~$7694/day); VIETNAM→FRANCE (1 voyages, ~$7694/day).
SOUTH JAPAN — ~$8759/day
Supply/demand — 13 ships open (~84k dwt); inbound ballast 10 vs laden 14; ballast-share 43%; demand-pull rel 1.37; scarcity 1.10. Leading signal — 7-day ballast-pull -17% (ballast interest thinning here (softening)). Busiest lanes out — SOUTH JAPAN→PHILIPPINES (6 voyages, ~$7217/day); SOUTH JAPAN→THAILAND (3 voyages, ~$7217/day); SOUTH JAPAN→TAIWAN (7 voyages, ~$7217/day).
SWEDEN — ~$8918/day
Supply/demand — 7 ships open (~49k dwt); inbound ballast 9 vs laden 16; ballast-share 39%; demand-pull rel 1.40; scarcity 1.30. Leading signal — 7-day ballast-pull -10% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Goteborg (PAI 6.5), Oxelosund (PAI 5.6). Busiest lanes out — SWEDEN→SPAIN (9 voyages, ~$6967/day); SWEDEN→NETHERLANDS (18 voyages, ~$6967/day); SWEDEN→SWEDEN (43 voyages, ~$6967/day).
10-17.5K — ~$9468/day ($+154 d/d); 630 voyages, 14305567 kt-miles tracked
Momentum: +37% vs balanced, +0.3% day, +0.4% week (relative to a balanced market).
SOUTH JAPAN — ~$12817/day
Supply/demand — 25 ships open (~338k dwt); inbound ballast 22 vs laden 20; ballast-share 49%; demand-pull rel 1.46; scarcity 1.01. Leading signal — 7-day ballast-pull -12% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Kobe (PAI 6.6), Fukuyama (PAI 5.3). Busiest lanes out — SOUTH JAPAN→THAILAND (16 voyages, ~$12892/day); SOUTH JAPAN→VIETNAM (11 voyages, ~$12892/day); SOUTH JAPAN→WEST INDONESIA (7 voyages, ~$12892/day).
WEST INDONESIA — ~$14079/day
Supply/demand — 13 ships open (~166k dwt); inbound ballast 13 vs laden 10; ballast-share 50%; demand-pull rel 1.60; scarcity 1.13. Leading signal — 7-day ballast-pull +62% (empty ships building toward this load zone (firming)). Busiest lanes out — WEST INDONESIA→NORTH CHINA (8 voyages, ~$12892/day); WEST INDONESIA→SOUTH JAPAN (7 voyages, ~$12892/day); WEST INDONESIA→NORTH JAPAN (3 voyages, ~$12892/day).
NORTH CHINA — ~$11787/day
Supply/demand — 18 ships open (~236k dwt); inbound ballast 11 vs laden 8; ballast-share 50%; demand-pull rel 1.34; scarcity 0.91. Leading signal — 7-day ballast-pull +10% (empty ships building toward this load zone (firming)). Busiest lanes out — NORTH CHINA→EAST INDONESIA (6 voyages, ~$12172/day); NORTH CHINA→WEST INDONESIA (4 voyages, ~$12172/day); NORTH CHINA→VENEZUELA (1 voyages, ~$12172/day).
VIETNAM — ~$11134/day
Supply/demand — 11 ships open (~150k dwt); inbound ballast 7 vs laden 14; ballast-share 40%; demand-pull rel 1.26; scarcity 1.09. Leading signal — 7-day ballast-pull -22% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Ho Chi Minh (PAI 4.8). Busiest lanes out — VIETNAM→SOUTH JAPAN (5 voyages, ~$12892/day); VIETNAM→NORTH CHINA (5 voyages, ~$12892/day); VIETNAM→PHILIPPINES (7 voyages, ~$12892/day).
EAST INDONESIA — ~$9535/day
Supply/demand — 6 ships open (~79k dwt); inbound ballast 7 vs laden 14; ballast-share 39%; demand-pull rel 1.08; scarcity 0.95. Leading signal — 7-day ballast-pull +17% (empty ships building toward this load zone (firming)). Busiest lanes out — EAST INDONESIA→NORTH CHINA (5 voyages, ~$12599/day); EAST INDONESIA→SOUTH CHINA (6 voyages, ~$12599/day); EAST INDONESIA→MID CHINA (3 voyages, ~$12599/day).
17.5-30K — ~$11585/day ($-759 d/d); 35 voyages, 3528648 kt-miles tracked
Momentum: +34% vs balanced, -2.9% day, -21.1% week (relative to a balanced market).
FINLAND
Leading signal — 7-day ballast-pull +73% (empty ships building toward this load zone (firming)). Busiest lanes out — FINLAND→USEC (6 voyages, ~$11202/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull +22% (empty ships building toward this load zone (firming)). Busiest lanes out — SOUTH BRAZIL→GAMBIA (3 voyages, ~$6063/day); SOUTH BRAZIL→SPAIN MED (2 voyages, ~$6063/day).
USEC
Leading signal — 7-day ballast-pull +17% (empty ships building toward this load zone (firming)). Busiest lanes out — USEC→WEST INDONESIA (2 voyages, ~$11890/day).
NORTH CHINA
Leading signal — 7-day ballast-pull +10% (empty ships building toward this load zone (firming)). Busiest lanes out — NORTH CHINA→WEST INDONESIA (7 voyages, ~$15952/day).
SWEDEN
Leading signal — 7-day ballast-pull +73% (empty ships building toward this load zone (firming)). Busiest lanes out — SWEDEN→USEC (4 voyages, ~$11202/day).
30-47K — ~$11036/day ($-503 d/d); 95 voyages, 20508820 kt-miles tracked
Momentum: +6% vs balanced, -3.5% day, -25.9% week (relative to a balanced market).
NEW ZEALAND
Leading signal — 7-day ballast-pull +6% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Tauranga (PAI 5.7). Busiest lanes out — NEW ZEALAND→NORTH CHINA (21 voyages, ~$10774/day); NEW ZEALAND→SOUTH KOREA (7 voyages, ~$10774/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 23.2), La Plata (PAI 7.5), Rosario (PAI 5.8). Busiest lanes out — NORTH ARGENTINA→MOROCCO (10 voyages, ~$15479/day); NORTH ARGENTINA→ALGERIA (9 voyages, ~$15479/day); NORTH ARGENTINA→GREECE (6 voyages, ~$15479/day).
WC CANADA
Leading signal — 7-day ballast-pull +14% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Vancouver (PAI 8.1). Busiest lanes out — WC CANADA→SOUTH JAPAN (10 voyages, ~$6272/day).
EAST SOUTH AFRICA
Leading signal — 7-day ballast-pull -20% (ballast interest thinning here (softening)). Busiest lanes out — EAST SOUTH AFRICA→USEC (6 voyages, ~$7762/day).
UNITED STATES PACIFIC
Leading signal — 7-day ballast-pull +14% (empty ships building toward this load zone (firming)). Busiest lanes out — UNITED STATES PACIFIC→SOUTH JAPAN (10 voyages, ~$6272/day).
47-55K — ~$18036/day ($-891 d/d); 185 voyages, 9028559 kt-miles tracked
Momentum: +81% vs balanced, -1.2% day, -13.1% week (relative to a balanced market).
NORTH CHINA
Leading signal — 7-day ballast-pull -26% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Caofeidian (PAI 12.1), Huanghua (PAI 10.8), Qinhuangdao (PAI 9.5). Busiest lanes out — NORTH CHINA→MID CHINA (76 voyages, ~$20294/day); NORTH CHINA→COTE D IVOIRE (2 voyages, ~$20294/day); NORTH CHINA→NORTH CHINA (62 voyages, ~$20294/day).
EAST INDONESIA
Leading signal — 7-day ballast-pull -3% (ballast interest broadly steady). Busiest lanes out — EAST INDONESIA→WEST INDONESIA (13 voyages, ~$20294/day); EAST INDONESIA→COMORES ISLANDS (2 voyages, ~$20294/day).
PHILIPPINES
Leading signal — 7-day ballast-pull -3% (ballast interest broadly steady). Busiest lanes out — PHILIPPINES→NORTH CHINA (12 voyages, ~$20294/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Busiest lanes out — SOUTH BRAZIL→SOUTH CHINA (2 voyages, ~$14742/day).
WEST INDONESIA
Leading signal — 7-day ballast-pull -3% (ballast interest broadly steady). Busiest lanes out — WEST INDONESIA→EAST INDONESIA (13 voyages, ~$20294/day).
55-68K — ~$16854/day ($-406 d/d); 109 voyages, 37256592 kt-miles tracked
Momentum: +48% vs balanced, -1.8% day, -7.0% week (relative to a balanced market).
NORTH CHINA
Leading signal — 7-day ballast-pull -1% (ballast interest broadly steady). Load hubs where cargo is concentrating: Tianjin (PAI 13.2), Caofeidian (PAI 11.6), Lianyungang (PAI 8.9). Busiest lanes out — NORTH CHINA→PERU (8 voyages, ~$20520/day); NORTH CHINA→MEXICO (7 voyages, ~$20520/day).
EAST SOUTH AFRICA
Leading signal — 7-day ballast-pull -8% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Durban (PAI 7.1), Richards Bay (PAI 6.4), Port Elizabeth (PAI 5.6). Busiest lanes out — EAST SOUTH AFRICA→NORTH CHINA (11 voyages, ~$16192/day); EAST SOUTH AFRICA→PAKISTAN (10 voyages, ~$16192/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull -8% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Santos (PAI 13.8). Busiest lanes out — SOUTH BRAZIL→BANGLADESH (7 voyages, ~$16170/day); SOUTH BRAZIL→USEC (12 voyages, ~$16170/day).
PERU
Leading signal — 7-day ballast-pull +60% (empty ships building toward this load zone (firming)). Busiest lanes out — PERU→NORTH CHINA (7 voyages, ~$10426/day).
USEC
Leading signal — 7-day ballast-pull +2% (ballast interest broadly steady). Load hubs where cargo is concentrating: New Orleans (PAI 8.9), Houston (PAI 6.0). Busiest lanes out — USEC→EGYPT MED (10 voyages, ~$18076/day).
68-90K — ~$19470/day ($-1483 d/d); 301 voyages, 74081776 kt-miles tracked
Momentum: +74% vs balanced, -7.4% day, -26.8% 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 19.4). Busiest lanes out — EAST AUSTRALIA→SOUTH JAPAN (31 voyages, ~$18876/day); EAST AUSTRALIA→SOUTH CHINA (25 voyages, ~$18876/day).
WEST INDONESIA
Leading signal — 7-day ballast-pull +2% (ballast interest broadly steady). Load hubs where cargo is concentrating: Taboneo Anch (PAI 9.9), Bunati (PAI 7.6), Tanjung Pemancingan (PAI 4.8). Busiest lanes out — WEST INDONESIA→SOUTH CHINA (60 voyages, ~$23793/day); WEST INDONESIA→MID CHINA (33 voyages, ~$23793/day).
UNITED STATES PACIFIC
Leading signal — 7-day ballast-pull +2% (ballast interest broadly steady). Busiest lanes out — UNITED STATES PACIFIC→SOUTH JAPAN (18 voyages, ~$13227/day); UNITED STATES PACIFIC→SOUTH KOREA (15 voyages, ~$13227/day).
NORTH CHINA
Leading signal — 7-day ballast-pull +3% (ballast interest broadly steady). Load hubs where cargo is concentrating: Caofeidian (PAI 10.3), Huanghua (PAI 7.6), Qinhuangdao (PAI 6.4). Busiest lanes out — NORTH CHINA→SOUTH CHINA (82 voyages, ~$23793/day).
USEC
Leading signal — 7-day ballast-pull +22% (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, ~$20214/day).
90-120K — ~$27753/day ($-1339 d/d); 98 voyages, 39100030 kt-miles tracked
Momentum: +108% vs balanced, -2.8% day, -7.5% week (relative to a balanced market).
NORTH AUSTRALIA
Leading signal — 7-day ballast-pull -7% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Gladstone (PAI 6.2), Hay Point (PAI 6.2), Port Hedland (PAI 4.9). Busiest lanes out — NORTH AUSTRALIA→NORTH CHINA (18 voyages, ~$28822/day); NORTH AUSTRALIA→SOUTH JAPAN (11 voyages, ~$28822/day); NORTH AUSTRALIA→MID CHINA (10 voyages, ~$28822/day).
EAST AUSTRALIA
Leading signal — 7-day ballast-pull -7% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Newcastle (PAI 11.0). Busiest lanes out — EAST AUSTRALIA→SOUTH JAPAN (14 voyages, ~$28822/day); EAST AUSTRALIA→NORTH JAPAN (8 voyages, ~$28822/day); EAST AUSTRALIA→TAIWAN (9 voyages, ~$28822/day).
USEC
Leading signal — 7-day ballast-pull -17% (ballast interest thinning here (softening)). Busiest lanes out — USEC→EC INDIA (3 voyages, ~$12207/day).
120-190K — ~$28067/day ($-1564 d/d); 266 voyages, 202201694 kt-miles tracked
Momentum: +68% vs balanced, -3.7% day, -19.8% week (relative to a balanced market).
NORTH AUSTRALIA
Leading signal — 7-day ballast-pull +6% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Port Hedland (PAI 31.0), Port Walcott (PAI 11.9), Dampier (PAI 11.1). Busiest lanes out — NORTH AUSTRALIA→NORTH CHINA (133 voyages, ~$30265/day); NORTH AUSTRALIA→MID CHINA (40 voyages, ~$30265/day); NORTH AUSTRALIA→SOUTH CHINA (41 voyages, ~$30265/day).
GUINEA
Leading signal — 7-day ballast-pull -6% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Bel Air Tsz (PAI 5.2). Busiest lanes out — GUINEA→NORTH CHINA (9 voyages, ~$15658/day).
PERU
Busiest lanes out — PERU→NORTH CHINA (7 voyages, ~$11744/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, ~$25989/day); SOUTH BRAZIL→SOUTH CHINA (3 voyages, ~$25989/day).
NORTH CHINA
Leading signal — 7-day ballast-pull +29% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Qingdao (PAI 7.2), Rizhao (PAI 5.2). Busiest lanes out — NORTH CHINA→PERU (3 voyages, ~$36298/day).
190-250K — ~$33115/day ($-4172 d/d); 202 voyages, 187119801 kt-miles tracked
Momentum: +84% vs balanced, -11.3% day, -17.3% week (relative to a balanced market).
NORTH AUSTRALIA
Leading signal — 7-day ballast-pull +12% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Port Hedland (PAI 22.2), Port Walcott (PAI 5.5). Busiest lanes out — NORTH AUSTRALIA→NORTH CHINA (93 voyages, ~$37131/day); NORTH AUSTRALIA→SOUTH JAPAN (30 voyages, ~$37131/day); NORTH AUSTRALIA→MID CHINA (18 voyages, ~$37131/day).
GUINEA
Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Busiest lanes out — GUINEA→NORTH CHINA (14 voyages, ~$21409/day); GUINEA→EC INDIA (6 voyages, ~$21409/day).
SOUTH BRAZIL
Leading signal — 7-day ballast-pull +0% (ballast interest broadly steady). Load hubs where cargo is concentrating: Itaguai (PAI 5.0). Busiest lanes out — SOUTH BRAZIL→NORTH CHINA (8 voyages, ~$32582/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, ~$13403/day).
EAST AUSTRALIA
Leading signal — 7-day ballast-pull +12% (empty ships building toward this load zone (firming)). Busiest lanes out — EAST AUSTRALIA→SOUTH JAPAN (6 voyages, ~$37131/day).
Outlook (forward view)
Looking ahead, the momentum indicators suggest a mixed picture for the dry-bulk market. The day-over-day and week-over-week momentum figures show declines across several tonnage bands, indicating potential softening of rates. However, certain segments like the 10-17.5K and 120-190K bands are seeing increased ballast-pull towards specific load zones, such as North China and West Indonesia, which could lead to firming demand in these areas.
Based on these forward signals, it appears that the overall market may remain range-bound over the coming days, with selective firming in specific tonnage bands and regions where empty ships are building up. The 10-17.5K band, in particular, looks poised for potential gains due to its strong vs-balanced positioning and positive ballast-pull trends. Meanwhile, larger tonnage bands like the 190-250K segment may see more volatility due to their higher sensitivity to changes in global supply and demand dynamics.
This outlook is based on a model-and-momentum scenario read and should not be taken as investment or trading advice. The dry-bulk market's trajectory will ultimately depend on various factors, including cargo demand, fleet deployment, and geopolitical developments.