Group 1 - The core business model of the company focuses on providing efficient transport solutions while managing customer risk as an asset-light dry bulk operator [2] - The Supramax index showed significant growth, increasing from summer lows of 10,000-12,000 to nearly 19,000 by autumn, indicating a tight market utilization rate [3] - After a seasonal dip in December, the rates rebounded quickly, leading to a strong start for 2026, with the FFA market reflecting positive expectations for the upcoming year [3] Group 2 - The basin spread between the Atlantic and Pacific markets remained relatively stable throughout the year, with Q3 showing higher Atlantic rates and Q4 showing lower rates, indicating normal trading conditions [3]