Dry-bulk freight rates surge higher on strong demand, with key tonnage bands showing significant day-over-day gains.
Global supply & demand
The DBPI pressure index rose to 2437.9, a day-over-day increase of +323, indicating a firming market tone. The global LSR (laden sailing ratio) held steady at 57%, suggesting a balanced world fleet with open tonnage available but being steadily absorbed by cargo demand. The laden-vs-ballast split stood at 364M dwt laden vs 270M dwt ballast, while the world port/sea ratio of 0.56 indicates that there is still more tonnage sailing than tied up in port or anchorage, supporting rates. Notably, Capesize vessels are seeing the strongest demand, led by the North Australia to North China route.
The overall trajectory suggests a market in expansion mode, driven by firming demand across multiple segments and regions. The DBPI's day-over-day increase is a clear indicator of this upward pressure on rates. While the LSR remains balanced, the fact that it has not decreased despite the increase in DBPI suggests that demand is keeping pace with available supply.
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 - ~$4545/day ($+118 d/d); 2520 voyages, 5144812 kt-miles tracked
Momentum: +10% vs balanced, +0.0% day, -13.9% week (relative to a balanced market).
SOUTH NORWAY - ~$7300/day
Supply/demand - 15 ships open (~52k dwt); inbound ballast 19 vs laden 26; ballast-share 43%; demand-pull rel 1.60; scarcity 1.30. Leading signal - 7-day ballast-pull +6% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Rekefjord (PAI 7.8), Kragero (PAI 4.6), Eikefet (PAI 4.5). Busiest lanes out - SOUTH NORWAY→GERMANY (58 voyages, ~$5497/day); SOUTH NORWAY→DENMARK (61 voyages, ~$5497/day); SOUTH NORWAY→NETHERLANDS (35 voyages, ~$5497/day).
NETHERLANDS - ~$6541/day
Supply/demand - 53 ships open (~185k dwt); inbound ballast 14 vs laden 24; ballast-share 39%; demand-pull rel 1.43; scarcity 1.15. Leading signal - 7-day ballast-pull +17% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Vlissingen (PAI 10.4), Amsterdam (PAI 7.7), Velsen Noord (PAI 7.3). Busiest lanes out - NETHERLANDS→SPAIN (30 voyages, ~$5086/day); NETHERLANDS→SOUTH NORWAY (25 voyages, ~$5086/day); NETHERLANDS→SOUTH UNITED KINGDOM (49 voyages, ~$5086/day).
SPAIN - ~$7300/day
Supply/demand - 16 ships open (~63k dwt); inbound ballast 24 vs laden 19; ballast-share 51%; demand-pull rel 1.60; scarcity 0.98. Leading signal - 7-day ballast-pull +20% (empty ships building toward this load zone (firming)). Busiest lanes out - SPAIN→NETHERLANDS (19 voyages, ~$5616/day); SPAIN→SOUTH UNITED KINGDOM (22 voyages, ~$5616/day); SPAIN→POLAND (10 voyages, ~$5616/day).
RUSSIA - ~$5604/day
Supply/demand - 30 ships open (~107k dwt); inbound ballast 70 vs laden 75; ballast-share 49%; demand-pull rel 1.23; scarcity 0.78. Leading signal - 7-day ballast-pull -17% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Astrakhan (PAI 9.3), Rostov-On-Don (PAI 8.0). Busiest lanes out - RUSSIA→IRAN (25 voyages, ~$6403/day); RUSSIA→WEST TURKEY (19 voyages, ~$6403/day); RUSSIA→NORTH TURKEY (17 voyages, ~$6403/day).
GERMANY - ~$7300/day
Supply/demand - 18 ships open (~67k dwt); inbound ballast 12 vs laden 16; ballast-share 41%; 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 20.2), Rostock (PAI 18.1), Brake (PAI 10.1). Busiest lanes out - GERMANY→SOUTH NORWAY (27 voyages, ~$5427/day); GERMANY→NORTH UNITED KINGDOM (25 voyages, ~$5427/day); GERMANY→NORTH NORWAY (6 voyages, ~$5427/day).
5-10K - ~$5894/day ($+38 d/d); 1756 voyages, 9882553 kt-miles tracked
Momentum: +16% vs balanced, -1.1% day, -1.0% week (relative to a balanced market).
RUSSIA - ~$9739/day
Supply/demand - 33 ships open (~236k dwt); inbound ballast 94 vs laden 26; ballast-share 75%; demand-pull rel 1.57; scarcity 0.70. Leading signal - 7-day ballast-pull -9% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Rostov-On-Don (PAI 7.0), Yeysk (PAI 4.3). Busiest lanes out - RUSSIA→WEST TURKEY (25 voyages, ~$9434/day); RUSSIA→NORTH TURKEY (29 voyages, ~$9434/day); RUSSIA→IRAN (12 voyages, ~$9434/day).
VIETNAM - ~$7305/day
Supply/demand - 29 ships open (~203k dwt); inbound ballast 11 vs laden 15; ballast-share 42%; demand-pull rel 1.18; scarcity 0.94. Leading signal - 7-day ballast-pull +83% (empty ships building toward this load zone (firming)). Busiest lanes out - VIETNAM→PHILIPPINES (26 voyages, ~$6700/day); VIETNAM→SOUTH KOREA (4 voyages, ~$6700/day); VIETNAM→VIETNAM (29 voyages, ~$6700/day).
SOUTH NORWAY - ~$6958/day
Supply/demand - 3 ships open (~16k dwt); inbound ballast 6 vs laden 11; ballast-share 39%; demand-pull rel 1.12; scarcity 1.30. Leading signal - 7-day ballast-pull -25% (ballast interest thinning here (softening)). Busiest lanes out - SOUTH NORWAY→GERMANY (33 voyages, ~$5572/day); SOUTH NORWAY→NETHERLANDS (19 voyages, ~$5572/day); SOUTH NORWAY→DENMARK (31 voyages, ~$5572/day).
SOUTH JAPAN - ~$9831/day
Supply/demand - 9 ships open (~64k dwt); inbound ballast 11 vs laden 15; ballast-share 46%; demand-pull rel 1.58; scarcity 1.17. Leading signal - 7-day ballast-pull +175% (empty ships building toward this load zone (firming)). Busiest lanes out - SOUTH JAPAN→SOUTH KOREA (29 voyages, ~$7088/day); SOUTH JAPAN→MID CHINA (12 voyages, ~$7088/day); SOUTH JAPAN→PHILIPPINES (4 voyages, ~$7088/day).
WEST TURKEY - ~$9146/day
Supply/demand - 21 ships open (~147k dwt); inbound ballast 16 vs laden 22; ballast-share 45%; demand-pull rel 1.47; scarcity 1.09. Leading signal - 7-day ballast-pull -36% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Nemrut (PAI 9.2), Gemlik (PAI 5.1). Busiest lanes out - WEST TURKEY→ITALY MED (11 voyages, ~$8174/day); WEST TURKEY→SPAIN MED (4 voyages, ~$8174/day); WEST TURKEY→ITALY ADRIATIC (12 voyages, ~$8174/day).
10-17.5K - ~$8761/day ($+440 d/d); 680 voyages, 17066648 kt-miles tracked
Momentum: +20% vs balanced, +2.4% day, -4.1% week (relative to a balanced market).
SOUTH JAPAN - ~$12901/day
Supply/demand - 19 ships open (~259k dwt); inbound ballast 23 vs laden 23; ballast-share 47%; demand-pull rel 1.46; scarcity 1.02. Leading signal - 7-day ballast-pull +15% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Fukuyama (PAI 9.4), Kobe (PAI 4.2). Busiest lanes out - SOUTH JAPAN→THAILAND (21 voyages, ~$13339/day); SOUTH JAPAN→VIETNAM (11 voyages, ~$13339/day); SOUTH JAPAN→WEST INDONESIA (8 voyages, ~$13339/day).
WEST INDONESIA - ~$14180/day
Supply/demand - 9 ships open (~110k dwt); inbound ballast 9 vs laden 8; ballast-share 47%; demand-pull rel 1.60; scarcity 1.28. Leading signal - 7-day ballast-pull -10% (ballast interest thinning here (softening)). Busiest lanes out - WEST INDONESIA→SOUTH JAPAN (17 voyages, ~$12023/day); WEST INDONESIA→NORTH JAPAN (9 voyages, ~$12023/day); WEST INDONESIA→NORTH CHINA (6 voyages, ~$12023/day).
EAST INDONESIA - ~$12800/day
Supply/demand - 5 ships open (~64k dwt); inbound ballast 6 vs laden 6; ballast-share 47%; demand-pull rel 1.44; scarcity 1.05. Leading signal - 7-day ballast-pull -14% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Bahudopi (PAI 4.5), Obi Island (PAI 4.4). Busiest lanes out - EAST INDONESIA→SOUTH CHINA (12 voyages, ~$8670/day); EAST INDONESIA→MID CHINA (10 voyages, ~$8670/day); EAST INDONESIA→NORTH CHINA (6 voyages, ~$8670/day).
MID CHINA - ~$9349/day
Supply/demand - 29 ships open (~394k dwt); inbound ballast 7 vs laden 16; ballast-share 38%; demand-pull rel 1.05; scarcity 0.92. Leading signal - 7-day ballast-pull -46% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Shanghai (PAI 7.6), Zhangjiagang (PAI 4.3). Busiest lanes out - MID CHINA→SOUTH MALAYSIA (7 voyages, ~$12850/day); MID CHINA→WC INDIA (4 voyages, ~$12850/day); MID CHINA→EAST INDONESIA (4 voyages, ~$12850/day).
VIETNAM - ~$11585/day
Supply/demand - 13 ships open (~180k dwt); inbound ballast 5 vs laden 5; ballast-share 46%; demand-pull rel 1.31; scarcity 1.05. Leading signal - 7-day ballast-pull -38% (ballast interest thinning here (softening)). Busiest lanes out - VIETNAM→SOUTH JAPAN (7 voyages, ~$8103/day); VIETNAM→PHILIPPINES (8 voyages, ~$8103/day); VIETNAM→NORTH JAPAN (3 voyages, ~$8103/day).
17.5-30K - ~$13342/day ($+847 d/d); 44 voyages, 4177907 kt-miles tracked
Momentum: +46% vs balanced, -0.5% day, -0.2% 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: Tianjin (PAI 6.8). Busiest lanes out - NORTH CHINA→WEST INDONESIA (8 voyages, ~$15132/day); NORTH CHINA→NIGERIA (2 voyages, ~$15132/day); NORTH CHINA→EAST INDONESIA (5 voyages, ~$15132/day).
WEST INDONESIA
Leading signal - 7-day ballast-pull -13% (ballast interest thinning here (softening)). Busiest lanes out - WEST INDONESIA→SOUTH JAPAN (9 voyages, ~$14738/day).
USEC
Leading signal - 7-day ballast-pull -25% (ballast interest thinning here (softening)). Busiest lanes out - USEC→WEST INDONESIA (2 voyages, ~$10971/day).
FINLAND
Leading signal - 7-day ballast-pull +44% (empty ships building toward this load zone (firming)). Busiest lanes out - FINLAND→USEC (5 voyages, ~$12579/day).
VIETNAM
Leading signal - 7-day ballast-pull -13% (ballast interest thinning here (softening)). Busiest lanes out - VIETNAM→SOUTH JAPAN (6 voyages, ~$14738/day).
30-47K - ~$12576/day ($+600 d/d); 102 voyages, 21498054 kt-miles tracked
Momentum: +40% vs balanced, +0.0% day, -1.2% week (relative to a balanced market).
NEW ZEALAND
Leading signal - 7-day ballast-pull -14% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Tauranga (PAI 5.7). Busiest lanes out - NEW ZEALAND→NORTH CHINA (24 voyages, ~$13018/day); NEW ZEALAND→MID CHINA (8 voyages, ~$13018/day).
NORTH ARGENTINA
Leading signal - 7-day ballast-pull -12% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: San Lorenzo (PAI 33.2), Rosario (PAI 11.9). Busiest lanes out - NORTH ARGENTINA→MOROCCO (10 voyages, ~$15623/day); NORTH ARGENTINA→ALGERIA (9 voyages, ~$15623/day).
WEST AUSTRALIA
Leading signal - 7-day ballast-pull -14% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Bunbury (PAI 5.8). Busiest lanes out - WEST AUSTRALIA→NORTH CHINA (9 voyages, ~$13018/day); WEST AUSTRALIA→SOUTH JAPAN (9 voyages, ~$13018/day).
BALTIC RUSSIA
Leading signal - 7-day ballast-pull -9% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: St Petersburg (PAI 8.1), Ust-Luga (PAI 8.0). Busiest lanes out - BALTIC RUSSIA→SOUTH BRAZIL (8 voyages, ~$13461/day).
WC CANADA
Leading signal - 7-day ballast-pull -18% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Vancouver (PAI 8.7). Busiest lanes out - WC CANADA→SOUTH JAPAN (11 voyages, ~$7539/day).
47-55K - ~$16580/day ($+949 d/d); 123 voyages, 10007947 kt-miles tracked
Momentum: +52% vs balanced, +0.0% day, +0.2% week (relative to a balanced market).
NORTH CHINA
Leading signal - 7-day ballast-pull -45% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Caofeidian (PAI 12.9), Huanghua (PAI 12.5), Qinhuangdao (PAI 11.4). Busiest lanes out - NORTH CHINA→MID CHINA (82 voyages, ~$20994/day); NORTH CHINA→COTE D IVOIRE (2 voyages, ~$20994/day).
SOUTH CHILE
Busiest lanes out - SOUTH CHILE→NORTH CHINA (2 voyages, ~$8393/day).
NORTH BRAZIL
Leading signal - 7-day ballast-pull +80% (empty ships building toward this load zone (firming)). Busiest lanes out - NORTH BRAZIL→SOUTH JAPAN (2 voyages, ~$16322/day).
SOUTH BRAZIL
Leading signal - 7-day ballast-pull +80% (empty ships building toward this load zone (firming)). Busiest lanes out - SOUTH BRAZIL→SOUTH CHINA (2 voyages, ~$16322/day).
USEC
Leading signal - 7-day ballast-pull -27% (ballast interest thinning here (softening)). Busiest lanes out - USEC→WEST TURKEY (3 voyages, ~$16301/day).
55-68K - ~$16399/day ($+426 d/d); 114 voyages, 47553746 kt-miles tracked
Momentum: +57% vs balanced, +0.0% day, +1.4% week (relative to a balanced market).
SOUTH BRAZIL
Leading signal - 7-day ballast-pull +0% (ballast interest broadly steady). Load hubs where cargo is concentrating: Santos (PAI 16.7). Busiest lanes out - SOUTH BRAZIL→BANGLADESH (11 voyages, ~$18274/day); SOUTH BRAZIL→USEC (16 voyages, ~$18274/day); SOUTH BRAZIL→SOUTH CHINA (6 voyages, ~$18274/day).
EAST SOUTH AFRICA
Leading signal - 7-day ballast-pull +5% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Richards Bay (PAI 7.8), Durban (PAI 7.3), Port Elizabeth (PAI 6.6). Busiest lanes out - EAST SOUTH AFRICA→NORTH CHINA (17 voyages, ~$14311/day).
PERU
Leading signal - 7-day ballast-pull -20% (ballast interest thinning here (softening)). Busiest lanes out - PERU→NORTH CHINA (10 voyages, ~$9152/day).
NORTH CHINA
Leading signal - 7-day ballast-pull +8% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Tianjin (PAI 16.6), Caofeidian (PAI 9.6), Huanghua (PAI 7.8). Busiest lanes out - NORTH CHINA→PERU (7 voyages, ~$20435/day).
WEST INDONESIA
Leading signal - 7-day ballast-pull -4% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Taboneo Anch (PAI 8.4), Meulaboh (PAI 5.6), Palembang (PAI 4.8). Busiest lanes out - WEST INDONESIA→WC INDIA (24 voyages, ~$21698/day).
68-90K - ~$22864/day ($+3763 d/d); 373 voyages, 96240838 kt-miles tracked
Momentum: +55% vs balanced, +0.0% day, +0.2% week (relative to a balanced market).
EAST AUSTRALIA
Leading signal - 7-day ballast-pull -4% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Newcastle (PAI 25.0). Busiest lanes out - EAST AUSTRALIA→SOUTH JAPAN (36 voyages, ~$22993/day); EAST AUSTRALIA→SOUTH CHINA (33 voyages, ~$22993/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 31.6), Paranagua (PAI 10.5), Rio Grande (PAI 6.5). Busiest lanes out - SOUTH BRAZIL→NORTH CHINA (14 voyages, ~$24151/day); SOUTH BRAZIL→SOUTH CHINA (8 voyages, ~$24151/day).
WEST INDONESIA
Leading signal - 7-day ballast-pull -17% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Taboneo Anch (PAI 11.9), Bunati (PAI 8.6), Tanjung Pemancingan (PAI 5.6). Busiest lanes out - WEST INDONESIA→SOUTH CHINA (88 voyages, ~$24624/day); WEST INDONESIA→MID CHINA (42 voyages, ~$24624/day).
UNITED STATES PACIFIC
Leading signal - 7-day ballast-pull -2% (ballast interest broadly steady). Busiest lanes out - UNITED STATES PACIFIC→SOUTH JAPAN (20 voyages, ~$18202/day); UNITED STATES PACIFIC→SOUTH KOREA (17 voyages, ~$18202/day).
NORTH AUSTRALIA
Leading signal - 7-day ballast-pull -4% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Hay Point (PAI 14.3), Gladstone (PAI 9.4), Abbot Point (PAI 5.1). Busiest lanes out - NORTH AUSTRALIA→NORTH CHINA (32 voyages, ~$22993/day).
90-120K - ~$29381/day ($+4488 d/d); 124 voyages, 49539295 kt-miles tracked
Momentum: +67% vs balanced, +0.0% day, -4.0% week (relative to a balanced market).
NORTH AUSTRALIA
Leading signal - 7-day ballast-pull +18% (empty ships building toward this load zone (firming)). 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 (31 voyages, ~$29866/day); NORTH AUSTRALIA→VIETNAM (14 voyages, ~$29866/day); NORTH AUSTRALIA→MID CHINA (10 voyages, ~$29866/day).
EAST AUSTRALIA
Leading signal - 7-day ballast-pull +18% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Newcastle (PAI 12.3). Busiest lanes out - EAST AUSTRALIA→SOUTH JAPAN (19 voyages, ~$29866/day); EAST AUSTRALIA→NORTH JAPAN (12 voyages, ~$29866/day); EAST AUSTRALIA→TAIWAN (9 voyages, ~$29866/day).
SOUTH MOZAMBIQUE
Leading signal - 7-day ballast-pull -11% (ballast interest thinning here (softening)). Busiest lanes out - SOUTH MOZAMBIQUE→NORTH CHINA (4 voyages, ~$21258/day).
120-190K - ~$34483/day ($+6059 d/d); 301 voyages, 226390741 kt-miles tracked
Momentum: +73% vs balanced, -0.5% day, -10.6% 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: Port Hedland (PAI 31.4), Dampier (PAI 12.8), Port Walcott (PAI 12.8). Busiest lanes out - NORTH AUSTRALIA→NORTH CHINA (146 voyages, ~$37582/day); NORTH AUSTRALIA→MID CHINA (45 voyages, ~$37582/day); NORTH AUSTRALIA→SOUTH CHINA (40 voyages, ~$37582/day).
GUINEA
Leading signal - 7-day ballast-pull +16% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Kamsar (PAI 8.3). Busiest lanes out - GUINEA→NORTH CHINA (14 voyages, ~$22870/day).
SOUTH BRAZIL
Leading signal - 7-day ballast-pull +11% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Itaguai (PAI 4.5). Busiest lanes out - SOUTH BRAZIL→NORTH CHINA (6 voyages, ~$32495/day).
PERU
Leading signal - 7-day ballast-pull -20% (ballast interest thinning here (softening)). Busiest lanes out - PERU→NORTH CHINA (6 voyages, ~$12159/day).
EAST SOUTH AFRICA
Leading signal - 7-day ballast-pull -8% (ballast interest thinning here (softening)). Load hubs where cargo is concentrating: Richards Bay (PAI 5.6). Busiest lanes out - EAST SOUTH AFRICA→SOUTH KOREA (5 voyages, ~$27402/day).
190-250K - ~$42506/day ($+6121 d/d); 230 voyages, 199946393 kt-miles tracked
Momentum: +70% vs balanced, +0.0% day, +0.3% week (relative to a balanced market).
NORTH AUSTRALIA
Leading signal - 7-day ballast-pull -2% (ballast interest broadly steady). Load hubs where cargo is concentrating: Port Hedland (PAI 31.9), Port Walcott (PAI 8.8), Dampier (PAI 7.5). Busiest lanes out - NORTH AUSTRALIA→NORTH CHINA (98 voyages, ~$42830/day); NORTH AUSTRALIA→SOUTH JAPAN (35 voyages, ~$42830/day); NORTH AUSTRALIA→MID CHINA (24 voyages, ~$42830/day).
GUINEA
Leading signal - 7-day ballast-pull +11% (empty ships building toward this load zone (firming)). Busiest lanes out - GUINEA→NORTH CHINA (16 voyages, ~$42061/day); GUINEA→SOUTH CHINA (3 voyages, ~$42061/day).
SOUTH BRAZIL
Leading signal - 7-day ballast-pull +5% (empty ships building toward this load zone (firming)). Load hubs where cargo is concentrating: Itaguai (PAI 8.9). Busiest lanes out - SOUTH BRAZIL→NORTH CHINA (7 voyages, ~$40310/day).
EAST AUSTRALIA
Leading signal - 7-day ballast-pull -2% (ballast interest broadly steady). Busiest lanes out - EAST AUSTRALIA→SOUTH JAPAN (5 voyages, ~$42830/day).
Outlook (forward view)
Looking ahead, the momentum indicators suggest a continued firming trend for the dry-bulk market, particularly in tonnage bands like the 120-190K segment where demand signals are strongest. The week-over-week and day-over-day momentum readings across various bands support this view, with several showing positive vs-balanced positioning. The 7-day ballast-pull trends also indicate empty ships building toward load zones in regions such as North Australia and South Brazil, a leading indicator of potential rate increases to come.
Based on these forward signals and the current market dynamics, it's plausible that rates will continue their upward trajectory over the coming days and weeks, albeit with potential for some bands to outperform others. The Capesize segment, in particular, may see sustained firmness due to its strong demand drivers. However, this outlook is grounded in a model-and-momentum scenario read and should not be taken as investment or trading advice. Market conditions can change rapidly based on a myriad of factors, including unforeseen shifts in global trade patterns, weather events, and geopolitical developments.