Hormuz disruption increases tanker inefficiency
Lower traffic through the Strait of Hormuz is reducing fleet efficiency, while crude flows continue through alternative arrangements. Hormuz traffic remains heavily disrupted Tracked vessel transits through the Strait of Hormuz fell to seven on 9 September, around half the recent 10-day average and significantly below pre-conflict levels. The lower traffic reflects continued security risks […]
VLCC tightness supports Suezmax and Aframax earnings
Limited VLCC availability is shifting demand towards midsize crude tankers, supporting both spot and period rates. VLCC tightness supports midsize tankers VLCC earnings on the Middle East to China route reached around $1.3 million per day last week. Longer voyages and delays related to ship-to-ship transfers are keeping VLCCs occupied for longer, tightening available tonnage. […]
Middle East disruption supports tanker earnings and period rates
Lower fleet efficiency and longer voyages continue to support freight rates across energy shipping. Tankers: Suezmax earnings reach record levels as period rates strengthen Crude tanker earnings rose sharply last week, with Suezmax earnings reaching more than $340,000/day, according to Clarksons. Lower fleet efficiency remains the main driver, as longer voyages and ship-to-ship transfers keep […]
Strong Chinese exports keep car carrier capacity tight
Vehicle exports are growing faster than the fleet, while limited return cargoes are adding to the capacity squeeze. Export growth continues to support earnings China exported 6.14 million vehicles in the first seven months of 2026, up 67% year-on-year, with monthly volumes above one million units in June and July. Charter rates have responded, with […]
Eight tankers destroyed as the Hormuz war escalates
Tanker attacks are intensifying as traffic through the Strait of Hormuz remains severely disrupted, with longer voyages and a shrinking dark fleet adding to pressure on tanker supply. Tanker attacks intensify as Hormuz traffic remains disrupted US forces have destroyed at least eight Iranian oil tankers since 5 September, including five overnight into 9 September. […]
Freight earnings remain elevated as longer voyages absorb fleet capacity
Longer voyage distances and limited vessel availability continue to support earnings across crude, gas and vehicle carriers, despite weaker underlying trade volumes. Tankers: Suezmax earnings rise 4% to $177,000/day as longer Atlantic voyages support demand Suezmax earnings rose 4% last week to approximately $177,000/day, while Aframax earnings eased 9% to approximately $83,000/day as tonnage availability […]
El Niño: What is it & how does it affect the VLGC market?
A warming Pacific has cut Panama Canal capacity, and canal access now sets the cost of moving LPG from the US Gulf to Asia. El Niño tightens an already constrained canal El Niño is a natural climate cycle that typically occurs every two to seven years. Warmer Pacific waters shift rainfall patterns, leaving Central America […]
Six Months of the Iran Conflict and What Has Changed for Shipping
Rates, ship values and trade routes have all reset since 28 February, with the change in routing looking more lasting than the risk premium. Rates and ship values have moved to a new level US and Israeli strikes on Iran on 28 February 2026 led Iran to close the Strait of Hormuz, which previously carried […]
Panama Becomes the Second Chokepoint as Crude Rates Correct
Crude earnings ease in the Atlantic while Panama Canal restrictions push gas transit costs to a record. Tankers: Crude rates remain high as the Atlantic cools VLCC earnings held near $230,000 per day in the week to 28 August, while Suezmax and Aframax earnings settled at approximately $179,000 and $100,000 per day. Atlantic rates eased […]
Limited vessel availability lifts earnings across crude, gas and vehicle segments
Fewer crude liftings and reduced Panama Canal transits are limiting vessel availability, while Chinese vehicle exports are increasing demand for car carriers. Tankers: Suezmax earnings rise to $238,000 per day, matching VLCCs Suezmax spot earnings rose 15% last week to approximately $238,000 per day, matching VLCC earnings. Fewer Middle East liftings are shifting more crude […]
