Nissen Kaiun have committed the Capesize “Ehime Queen” 181/2016Imabari, Japan (SS 07/2031, DD 05/2029, Scrubber fitted) to Chineseinterests at USD 57,5 mill basis delivery July-September 2026. Note that thethree-years-younger sister vessel “Lowlands Spirit” 182/2019 Imabari, Japan(SS 10/2029, DD 10/2027) was sold a month ago at USD 65,5 mill.The Kamsarmax “Panagia Force” 81/2007 Mitsui

Market Development Brent and WTI declined 8% w/w to USD 94.05/bbl and USD 88.89/bbl, respectively, as geopolitical risk moderated following the US and Iran’s agreement to extend the ceasefire by 60 days and continue nuclear negotiations. The agreement came despite a further escalation in hostilities during the week, including US strikes on Iranian military infrastructure near the Strait of Horm

  Charter Market We experienced yet another rather slow week, with only a handful of fixtures concluded, dominated by deals for tonnage in the feeder segments. In the Panamax segment 2 x widebeam 4,350 TEU Chinese newbuildings are thought to have been committed for charter to CUL on private terms basis delivery end 2026/early 2027. The feeders below 2,000 TEU experienced a busy week, wi

Market Drivers Brazil wheat imports could rise as domestic crop declines   Brazil’s wheat imports could increase in 2026 as farmers reduce wheat planting due to higher fertilizer and fuel costs, while uncertainty over El Niño is also weighing on production decisions.   Brazil’s wheat production could decline by around 25.0% y/y to just above 6.0 Mn tonnes. Wetter conditions in

Baltic Indices 19/11/2025  BDI 2260（+44）BCI 3636（+120) BPI 1895（+13） BSI 1430（+3） BHSI 820（0） P1A_82 17364（+373）  P2A_82 24293(+338) P3A_82 17525（+30） P4_82 10411（+36） P5_82 17853(-35） P6_82 16214（-69） P7 - Mississippi to Qingdao 66000 55.164 +0.485 P8 - Santos to qingdao 66000 39.107 -0.036 5TCavrg 17057（+118） 4TCavrg 15721（+118）