Structured thinking for uncertain shipping markets

Tidewake provides strategic insight into maritime markets with structured research on market dynamics, investment positioning, and firm strategies.

View research

+71.2%Equity performance of shipping index, YTD 2026Equal-weighted return across the 42 listed shipping firms in the index

$242BNcombined market capAcross the 42 firms in the shipping index

42listed shipping firmsAcross 3 segments — tankers, dry bulk and containers

A comprehensive view of maritime markets

Market dynamics

Structured analysis of market dynamics, freight cycles, and opportunities.

Investment positioning

Data-driven insight into cross-segment equity dislocation, relative value, and where capital is mispriced.

Firm strategy

Strategic perspectives on shipping company strategies, capital allocation, and fleet-level decisions.

The shipping equity opportunity

Shipping cyclicality as a driver of alpha

+67.0ppExcess returns vs S&P 500 · 1Y

+86.0%Tidewake composite

+19.0%S&P 500

Equal-weighted across every tracked listed shipping name, indexed to zero at window start.

Tidewake composite
S&P 500

Latest analysisSeptember 2, 2026 · 5 min readDry Bulk

The Capesize market is expected to remain elevated through the remainder of 2026

The Baltic Capesize Index has averaged 3,862 points so far this year — close to 50% above the 2025 average — and is expected to hold at elevated levels through the remainder of 2026. The BCI closed at 5,336 on 28 August, lifting the August monthly average to 4,786 and around 80% above the 2025 mean.