After several years of volatility, 2025 became the year the global shipping markets began to reset. Not collapse—but recalibrate.According to Veson Nautical’s 2025 End-of-Year Market Report, the past year was defined by
After several years of volatility, 2025 became the year the global shipping markets began to reset. Not collapse—but recalibrate.
According to Veson Nautical’s 2025 End-of-Year Market Report, the past year was defined by persistent geopolitical disruption, tightening environmental regulation and growing uncertainty over future fuel pathways. Red Sea instability continued to distort global trade flows, FuelEU Maritime and EU ETS added cost and complexity, and owners across nearly every sector adopted a more cautious stance toward fleet expansion.
As the industry enters 2026, the signals are clear: the era of blanket optimism is over, replaced by highly segmented markets where vessel size, age, fuel profile and trade exposure matter more than ever. We've distilled the Veson 67-page report into some key highlights below:
Dry Bulk: Larger Tonnage Enters 2026 with Momentum
Dry bulk shipping exits 2025 on relatively firm footing, particularly at the larger end of the spectrum. Capesize vessels benefited disproportionately from extended voyage distances caused by Red Sea diversions, pushing ton-mile demand higher and driving strong earnings.
That momentum is likely to carry into early 2026. Capesize asset values rose more than 20% year-on-year in 2025, and while freight sentiment softened in Q4, underlying fundamentals
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