Breakwave Weekend Read


Welcome to Breakwave Advisors Weekend Read


As we conclude the workweek and head into the weekend, take a moment to review the key articles from this week, including those you've highlighted. The Capesize segment stood out for its volatilityTrump's election win sparks selloffHas VLCC mileage bottomed out?The Big Picture: US election: tariffs to the fore, and more.


Breakwave Tanker Report 

VLCC Market Sees Unseasonal Downturn Amid Overcapacity and Rising Preference for Chinese Shipowners – The VLCC (Very Large Crude Carrier) market is experiencing an unusual downturn for this time of year, marked by low activity and a persistent drop in rates across both Eastern and Western markets.

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Reflecting on last year’s trends, the Capesize segment once again stood out for its volatility.

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Doric Weekly Market Insight




Steel Output Ex-China Back in Contraction as China's Output Finally Growing Again

As we discussed in Commodore Research's most recent Weekly Dry Bulk Report, global steel production totaled approximately 143.6 million tons in September.

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From Commodore's Weekly Dry Bulk Reports


Some thoughts on the election: It’s (still) the Economy, Stupid

This is the first note regarding the US election, “the most important of our lifetime”, as it is often dubbed.


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Forvis Mazars Weekly Note







China’s persistent record coal imports

According to data from the General Administration of Customs, Chinese coal imports climbed to new heights again..


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BRS Weekly Dry Bulk Newsletter




Tanker dynamics

The recent expansion of Canada's Trans Mountain Pipeline (TMX) is set to reshape the North American oil landscape,

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Intermodal Weekly Market Report




Trump's election win sparks selloff

Trump’s win saw a stronger USD weigh on investor appetite.


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Commodities Wrap





Has VLCC mileage bottomed out?

VLCC voyage mileage has been below the 8-year seasonal average for most of 2024, with a four-month..

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Vortexa - Global Freight Snapshot




China's Steel Output Finding Growth Again Just As Steel Output Ex-China Has Re-Entered Contraction

The most recently released data shows that daily crude steel output at large and medium-sized mills in China averaged 2.09 million tons during October 21 - October 31. 

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From Commodore's Weekly Dry Bulk Reports


The Big Picture: US election: tariffs to the fore

The first round of import tariffs (25% on steel and 10% on aluminium) in March 2018,

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Braemar Weekly Dry Market Report



Dry Bulk Demand - Tonne Days

November brought a significant downturn in dry bulk freight rates, 

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Signal Ocean - Dry Weekly Market Monitor