January 2026 secondhand activity opened strongly, with 217 transactions and more than $7.1bn of estimated invested capital, even as 20% of deals lacked price disclosure.
Capital concentrated in tankers, while dry bulk activity was led by Supramax and Ultramax and supported by steady Kamsarmax flow, keeping the focus on liquid mid size tonnage. Mid age ships represented the largest share of transaction volume, pointing to buyers prioritising tradable assets with practical remaining life.
Greek and Chinese strategies diverged. In dry bulk, Greek buying focused on Kamsarmax and Supramax and Ultramax, while Chinese buying leaned larger through Capesize and VLOC alongside Supramax and Ultramax volume. In tankers, Greek buyers drove the main investment flow with a clear tilt to crude segments, while Chinese participation was limited.
Dry Bulk Analysis – Week 07 2026
Capesize average earnings were $25,346 per day, up 10.4% week on week. Panamax average earnings were $15,989 per day, up 7.6%. Supramax average earnings were $12,959 per day, up 8.7%. Handysize average earnings were $12,247 per day, up 6.7%.
Dry Atlantic Analysis – Week 07 2026
Capesize activity slowed in West Africa and Brazil, with C3 (South Brazil/China) easing to $23.9 per ton and a Tubarao to Qingdao fixed at $24.00 per ton.
Panamax activity cooled but rates held firmer levels, with an 82,000 dwt fixed basis Singapore via ECSA to Singapore Japan at $19,000 per day.
Supramax trading in the US Gulf and South Atlantic stayed more positional, with a 62,000 dwt fixed delivery APS Nueva Palmira for grains redelivery South Korea at $15,000 per day plus a $500,000 ballast bonus.
Handysize sentiment improved on steadier cargo flow, including a 40,000 dwt fixed Mississippi River to East Coast Mexico at $22,000 per day.
Capesize enquiry focused on early March, with C5 (West Australia/China) slipping to $9.3 per ton and a West Australia to Qingdao fixed at $9.5 per ton.
Panamax cargo volumes stayed healthy and shorthaul demand tightened prompt availability, including an 82,000 dwt fixed basis Takehara via NoPac redelivery Singapore Japan at $17,500 per day with grains.
Supramax demand improved in North Asia and tightened prompt supply, including a 57,000 dwt fixed delivery SE Asia via West Australia redelivery Indonesia at $14,000 per day with salt. Handysize activity stayed selective, including a 41,000 dwt fixed open CJK for a trip to Southeast Asia at $7,000 per day.
VLCC fixing was selective, with TD15 (West Africa/China) assessed at WS121 averaging $106,500 per day as owners focused on workable prompt positions.
Suezmax core Atlantic runs stayed supported, with TD20 (West Africa/Continent) assessed at WS158 averaging $70,000 per day and TD27 (Guyana/UK Continent) at WS160 averaging $69,500 per day as owners prioritised clearer loading programs.
Aframax fixing centred on tighter windows, with TD25 (US Gulf/Continent) assessed at WS298 averaging $81,000 per day and TD26 (East Coast Mexico/US Gulf) at about WS390 averaging $124,000 per day. Aframax Mediterranean stayed the key print, with TD19 (Med/Med) assessed at WS238 averaging $91,000 per day.
LR West of Suez was paced by MEG to UK Continent, with LR2 TC20 (MEG/UK Continent) assessed at $4.0m averaging $32,000 per day. MR Atlantic remained guided by UK Continent and US Gulf flows, with TC2 (Continent/US Atlantic Coast) assessed at WS147 averaging $10,000 per day and TC21 (US Gulf/Caribs) assessed at $1.3m averaging $52,000 per day.
VLCC sentiment was anchored by MEG, with TD3C (MEG/China) assessed at WS133 averaging $122,500 per day as early cargoes cleared against available tonnage.
Suezmax positioning stayed influenced by firm crude benchmarks and prompt availability, with attention on replacement cover. LR MEG levels set direction, with LR2 TC1 (MEG/Japan) assessed at WS168 averaging $37,300 per day and LR1 TC5 (MEG/Japan) assessed at WS179 averaging $27,000 per day.
MR Pacific was guided by Singapore openings, with TC7 (Singapore/East Coast Australia) averaging $22,800 per day.
Over the past twelve months, Greek interests led selling with 303 vessels across sectors, versus 139 sales by Chinese sellers. Greek selling was led by 149 dry bulk and 106 tankers, plus 38 containers and 4 gas carriers, while Chinese selling comprised 85 dry bulk, 36 tankers, 10 containers and 5 gas carriers.
On the buying side, China ranked first with 230 purchases and Greece followed with 194, with Chinese buying led by 167 dry bulk and Greek buying led by 112 dry bulk, while tanker buying totalled 48 for China and 58 for Greece.
This post provides a high-level view of secondhand investment flows and current freight market performance across dry bulk and tanker segments.
The full Allied QuantumSea Weekly Market Report – Week 07 includes:
· Detailed secondhand investment analysis by sector, vessel size & age profile
· Capital allocation trends and buyer strategy breakdown (Greek vs Chinese positioning)
· Tanker and dry bulk segment-by-segment transaction insights
· Full dry bulk and tanker earnings tables across all classes
· Atlantic & Pacific route-level freight assessments with fixture examples
· Baltic indices, TCE comparisons & historical performance charts
· Newbuilding activity and orderbook developments
· Asset value benchmarks & liquidity trends
· Recycling activity and scrap pricing indicators
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