The shipping market has recorded a sharp drop in freight rates, especially in the dry cargo sectors, ahead of the New Year of the Snake,(Jan 29) which coincides with the traditional Chinese New Year holiday.

As research by brokerage Xclusiv Shipbrokers points out, prices for major ship classes such as Capesize, Handysize, Supramax, and Kamsarmax have seen severe losses, while the liquid cargo market has also seen significant declines.

“The situation for 2025 is uncertain and depends largely on the policies pursued by the Trump administration, especially about oil prices and the geopolitical situation in the Pacific and Middle East region,” analysts say. A partial analysis of the markets according to Xclusiv Shipbrokers.