Russian coal loadings reached 5.6Mt/wk last week, up +41% MoM and +35% YoY to a fresh 5-year high.
Focus on: Iranian export waivers
A new US sanctions waiver marks a step towards the return of Iranian oil to international markets, signalling potential shifts in global energy markets and tanker demand.
Iran’s grain suppliers unlikely to change despite US talks
Despite speculation that improving US-Iran relations could revive US grain exports, Iran’s central bank governor stated that existing agreements do not require purchases of US agricultural products.
Hormuz reopening may unlock 1Mt of trapped fertilizers, but recovery will be gradual
If the announced framework for a 60-day US-Iran ceasefire is signed on Friday, it could pave the way for a gradual reopening of the Strait of Hormuz, allowing fertilizer cargoes stranded inside the Gulf to resume moving.
Methanol MEG Export Dislocations
Methanol exports from the Middle Eastern Gulf face significant disruption, driving price increases and supply challenges worldwide.
China’s bauxite inventories continue to rise despite firmer prices
China’s bauxite inventories continue to rise despite firmer prices and concerns over Guinean supply.
Laura Gomez: Follow the data and challenge your assumptions
Dry bulk shipping research is not just about data — it is about knowing what matters, what can be trusted, and what the market may be missing.
Guinea bauxite loadings signal tightening global supply
Guinea’s expected bauxite export curbs from Jun’26 are already weighing on shipments.
Focus on: US strategic petroleum reserves
Record SPR releases have supported US crude exports and tanker demand. As the programme nears its end, questions over the next phase are growing.
Focus on: Venezuelan oil markets
Venezuelan crude production has exhibited a sharp rebound since the start of 2026, with levels currently sitting at 1.02m b/d, marking the 2nd highest level of production seen since late 2018.
China’s double coal exit: less imports, more by land
China’s coal burn at the six major coastal power groups hit a seasonal high of 0.8Mt/day last week, while Guangdong’s power load reached…
China sulphuric acid export ban
China recently announced a ban on sulphuric acid exports (produced from copper/zinc smelting) from 1 May through to December this year, with other grades except electronic grades heavily restricted.
Why judgement is becoming the scarcest commodity in dry bulk markets
Dry bulk markets have become faster, noisier and more transparent. AIS, pricing and flow data have made parts of the market visible in near real time. Yet visibility is not foresight. Human judgement, context and intuition still determine who stays ahead of the curve.
Guinea: last week saw iron ore shipments above 1.2Mt/Wk
Guinea iron ore exports stepped up sharply last week, doubling WoW from 0.6Mt to 1.2Mt/week.
Simandou’s export ramp-up accelerates
Guinea’s Simandou iron ore exports are accelerating faster than expected, supported by improving infrastructure readiness and stronger iron ore economics. IFCHOR GALBRAITHS’ latest analysis explores the implications for export flows and dry bulk markets.
China enters the US-China presidential summit in Beijing with little urgency to buy soybeans
As the US President arrives in Beijing with a broader delegation of American CEOs — including Cargill’s CEO — China’s soybean balance looks anything but tight.
Focus on: Chinese refined product exports
China’s restrictions on refined product exports have tightened regional fuel supply and disrupted Asian CPP tanker flows, particularly within the MR segment.
Brazil iron ore loadings lower on terminal maintenance
Brazil iron ore loadings dipped to 6.3Mt/Wk as of 3-May’26, down -13% YoY and -14% MoM, the lowest since Mar’26.
World coal loadings hit 5-Year High on anticipation of peak cooling demand
Coal loadings rose +7% YoY to a record 47.2Mt/wk last week, driven by China tightening gas allocation amid geopolitical risk and El Niño expectations, lifting coal demand and freight rates.
UAE to leave OPEC/OPEC+ from 1st May 2026
UAE exits OPEC to gain production flexibility amid shifting demand, though immediate tanker impact remains limited due to Strait of Hormuz constraints.