SSY Futures Ltd released its weekly freight technical analysis, indicating a general pause in momentum across Cape and Panamax dry bulk contracts for August and Calendar Year 2026.
According to the update prepared by MSCI of BETA Group and based on data from SSY, the Cape August 2025 contract peaked at $26,639 before pausing.
The analysis suggests support may form at $22,000, while technical indicators including Bollinger Bands and MACD have turned neutral to bearish.
The report notes that “the pullback is accompanied by low volume indicating a pause rather than a top.”
The Cape Cal 26 contract closed above $20,000 but has lost momentum, with resistance at $20,370 and support identified at multiple levels, including $19,072 and $18,591.
Analysts highlighted that volume has decreased and warned that “this could be it for the upside for now.”
Panamax August 2025, after a rise to $15,758, has retracted by 50% on light volume. The analysis suggests that this is likely a reaction rather than a top. Resistance is noted at $13,530, and support is at $12,545.
Panamax Cal 26 also paused after meeting resistance at $10,825. The volume is low and momentum indicators are neutral, with support found at $10,429.
SSY Futures Ltd concluded that “the neutral momentum message is not giving any clue to the eventual direction of the breakout.”
In recent months, dry bulk freight futures have experienced volatility driven by fluctuating global demand, weather-related disruptions in export regions, and seasonal shifts in commodity movements. According to Lloyd’s List and TradeWinds News (July 2025), a surge in rates during late Q2 was attributed to stronger-than-expected grain exports from South America and iron ore restocking in Asia. However, as freight forward agreements (FFAs) rolled into August, trading volumes dropped, and technical corrections began.
SSY Futures Ltd is a UK-based regulated financial services firm specializing in freight derivatives, commodities, and risk management. It is part of Simpson Spence Young (SSY), one of the world's largest independent shipbroking groups. The firm is authorized by the Financial Conduct Authority (FCA) and registered with the Commodity Futures Trading Commission (CFTC) in the U.S., also maintaining membership with the National Futures Association (NFA).