Gulf oil exports top pre-war levels, and the crude still needs tankers

Pipelines move Gulf crude to new loading ports rather than to buyers, and refilling depleted oil stocks should absorb the extra barrels. Exports exceed pre-war levels as pipelines change where tankers load Middle East oil exports averaged more than 24 million barrels per day (bpd) in the week ending 18 October, above the pre-war 23.3 […]

Further upside in asset values if earnings remain elevated

Historical trends suggest further upside in suezmax/crude tanker values, while elevated period rates support asset prices and future earnings. The recent surge in tanker earnings has pushed crude tanker asset values to new highs. However, historical data suggests further upside may remain, as asset prices often follow improvements in earnings with a lag. Since 2020, […]

Asset values and period rates stay firm as spot earnings ease

Hormuz attacks and tight vessel supply keep charterers focused on securing ships for longer. Tankers: Suezmax and Aframax values rise further as spot earnings ease Average tanker earnings eased 4% week-on-week to about $295,000/day, just below recent records. Gulf exports and ship-to-ship transfer delays continue to absorb vessel capacity. One-year timecharter rates stand at about […]

Green ammonia will soon be cheaper than diesel, says key shipping profile

As the first large ammonia-powered bulk carrier enters service, the debate is shifting from whether the technology works to whether it can compete on cost. A major owner backs ammonia with ships and long-term contracts“We believe green ammonia will be cheaper than diesel and it will happen much quicker than you think,” said Alexander Saverys, […]

Russian diesel returns, but what does it mean for the tanker market?

The US has opened the door to Russian diesel shipments. The first volumes offer limited relief, while a larger recovery could reshape product tanker trade. What has been agreed On 9 October, President Trump announced that Russia would supply more than 300,000 tonnes of diesel to US and global markets, followed by 500,000 tonnes in […]

Record earnings continue to lift earnings across tankers, gas and car carriers

Clarksons’ cross-sector earnings index set a fifth consecutive record last week as longer voyages keep vessel supply tight. Tankers: Suezmax and Aframax period rates reach new highsSuezmax earnings rose 17% last week to about $724,000/day and Aframax earnings 46% to about $394,000/day, as Hormuz shuttle voyages and split cargoes tie up mid-size tonnage. One-year timecharter […]

G7 announces 100 million-barrel reserve release to ease fuel shortages

The release aims to ease fuel shortages, with future restocking potentially creating fresh demand for tanker shipments. On 2 October, the G7 announced plans to release 100 million barrels of crude oil and diesel from emergency reserves over four months, with substantial diesel supplies made available in the first 20 days. The aim is to […]

Why are tanker rates still elevated as exports through the Strait of Hormuz recover to pre-war levels?

More crude is reaching buyers, but shuttle voyages, offshore transfers and cargo splitting keep vessel capacity under pressure. Exports have recovered, but shipping remains constrained Gulf crude and product exports, excluding Iran, reached approximately 16.5 million barrels/day in September, matching pre-war levels and recovering from around 6 million in March, according to Kpler. However, the […]

Suezmax earnings surge as shipping markets enter October on a strong footing

Limited vessel availability lifts tanker and VLGC earnings, while Chinese vehicle exports support car carrier demand. Tankers: Suezmax earnings jump 72% as charterers turn to smaller ships Suezmax earnings rose 72% last week to approximately USD 628,000/day, while Aframax earnings increased 8% to around USD 272,000/day. Charterers continue to split larger crude cargoes onto smaller […]

Why today’s tanker boom differs from the last Supercycle

Record tanker rates are emerging despite falling oil trade, suggesting that today’s market is being driven by disrupted supply chains rather than demand growth. Today’s strength is coming from inefficiency, not rising oil demand It is tempting to compare today’s tanker market with the last major supercycle in 2007-08, particularly as spot rates move to […]