Freight
Freight: DPP
The Freight RBI is undervalued at -4.9$/mt, but trending back toward neutral despite stagnant spot rates—an inherently bearish freight signal.
The Arab Light RBI is overvalued at 0.9$/bbl, and AG VLCC tonnage is materially long, with 35 open vessels in the 14-day window versus a 90-day trailing average of 21.
