Breakwave Weekend Read

Welcome to Breakwave Advisors Weekend Read

As the week comes to a close, take a moment to review the key insights from the past few days. Missed something? We've gathered all the top insights for you to catch up at your convenience.


Breakwave Shipping Report 

VLCC Market Cools Amid Sanctions, Holiday Slowdown, and Increased Uncertainty – The VLCC (Very Large Crude Carrier) freight market, which experienced a significant surge earlier this month following the implementation of new Russian shipping sanctions, has rapidly cooled as January nears its end.

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Following a very impactful end to the Biden era, the oil and tanker markets expected Trump’s second stint in the White House to start where Biden left off.

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Gibson Tanker Market Report





World Economic Outlook

Weak freight rates across all segments, compounded by heightened uncertainty and seasonal factors, have further weighed on market sentiment and daily earnings.

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Doric Weekly Market Insights


The 2025 outlook for Dry Bulk and Tanker markets

The 2025 outlook for Dry Bulk and Tanker markets paints a picture of opportunity, volatility and emerging new trends in trade.

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The 2025 Outlook




India’s crude intake changes towards Middle East barrels while refined product exports pivot to East of Suez

Easing trade tension helped push commodity markets higher. This was aided by the lingering pact of strong economic data from China.

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Vortexa Freight Weekly



A tech correction

In the past few days, a Chinese Large Language Model (LLM (what most people call AI) called Deepseek made its debut, upsetting global financial markets.

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Forvis Mazars Note





Commodities struggle amid risk-off tone across markets

A risk-off tone across wider markets weighed on sentiment in energy and metal sectors.


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Commodities Wrap

Week 1: Shock and Awe

The new President pulled many strings at once and holds the record for most executive orders signed on the first day.

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Forvis Mazars Weekly Note

Demolition Activity

Building on our previous report, in which we analyzed the projected bulk carrier deliveries for 2025,

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Intermodal Weekly Market Report


Uncertainty vs volatility – and the difference between flows and freight

In this big picture take, we try to dissect uncertainty from volatility, looking at the diverging fields of supply/demand and with that overall trade levels, as opposed to tonne-mileage in the freight market.

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Vortexa Freight Weekly



Capesize Market Insights


The momentum in the freight market has weakened as we approached the end of January and the onset of the Chinese New Year.

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Signal Ocean Dry Weekly Market Monitor



Reorientation of Wider Arabian Sea middle distillate trade weighs on LRs

Dirty – East of Suez: Short voyage distance means only a small replacement fleet is needed to maintain Kozmino-China flows


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Vortexa Global Freight Snapshot



Where India stands with Coal

This week, we aim to broaden the discussion by looking at India's fossil fuel demand and the associated trends in the coal market.

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BRS Weekly Dry Bulk Newsletter