Capes above $40,000/day — what's behind the breakout?
In the latest episode of The Marsoft Beat, Kevin Hazel sits down with Ryan Uljua to unpack the remarkable rally in the largest dry bulk segment.
They cover:
- Brazilian long-haul iron ore strength
- West Africa's rising iron ore role...even before Simandou ramps up
- China's "steel production down, iron ore imports up" paradox
- How 2025 has tracked along Marsoft's early-year "High Case" scenario
- Our latest read on Red Sea normalization
- Supply fundamentals setup heading into 2026
If you're watching dry bulk or commodity flows, this is one you don't want to miss.
Listen on Spotify or via our website.
Recorded on December 5, 2025.
