Tanker values forecast to remain elevated into 2026

Several factors conspire to support upward momentum Tanker values are expected to maintain upward momentum through the coming year, supported by steady demand, geopolitical disruptions, and limited fleet growth. The combination of sanctions, longer voyage distances, and constrained newbuilding capacity continues to underpin firm earnings and asset prices across the crude segments. According to Veson […]

EIA projects global oil surplus through 2026

Floating storage is emerging as a key outlet for surplus crude  Global oil markets are entering a period of renewed surplus as OPEC+ producers gradually lift output and key exporters ramp up seaborne flows. According to the US Energy Information Administration (EIA), global oil supply is projected to outpace demand into 2026, putting downward pressure […]

Market eases slightly after recent highs

US government shutdown yet to effect shipping operations Tankers: Underlying momentum robust despite quiet weekThe crude tanker market continued to show healthy underlying momentum despite a softening in spot rates. Overall fleet utilization remains strong, supported by steady long-haul crude flows and firm OPEC production levels. Suezmax rates saw a mild adjustment, with the West […]

Houthis escalate Red Sea threats against US oil majors

Militia claims new strike and blacklists oil majors The Houthis have escalated their campaign in the Red Sea, claiming responsibility for a strike on a vessel this Monday and blacklisting ExxonMobil, Chevron and other US oil majors. The move was presented as retaliation for recent US sanctions, with warnings that ships linked to these companies […]

Suezmaxes and Aframaxes strengthen as Guyana restricts VLCCs

Kirkuk-Ceyhan to restart while OPEC+ flows boost demand Suezmaxes and Aframaxes are emerging as the key beneficiaries of recent shifts in crude flows, with multiple developments reinforcing demand across both the Atlantic and Mediterranean markets. In the South Atlantic, seasonal restrictions are preventing VLCCs from loading Guyanese crude until January, redirecting volumes to Suezmaxes. Analysts […]

Strong week for midsize tankers car carriers as trade flows shift

Suezmax and Aframax segments supported by supply boosts Tankers The midsize tanker market saw renewed support this week, with continued steady earnings while VLCC earnings eased after last week’s surge. In the South Atlantic, seasonal restrictions – preventing VLCCs from loading Guyanese crude until January – are shifting volumes onto Suezmaxes. Analysts noted that last year […]

Ammonia-ready ships gain Panama Canal priority

Canal opens “NetZero Slot”, prioritizing future-fuel vessels The Panama Canal will launch a weekly “NetZero Slot” this November, reserving priority transit for dual-fuel vessels capable of operating on low-carbon fuels such as ammonia, methanol, bio-LNG, and bio-LPG. While vessels will not be required to use these fuels immediately, the Canal will recognise owners that have […]

Houthi attack near Aden underscores shipping risks

Red Sea hostility, an increasing cause of disruption On September 20, a vessel was attacked near Aden in an incident attributed to Houthi rebels. While traffic through the Red Sea and Gulf of Aden continues, the episode highlights the ongoing security risks for vessels transiting this key route. Such instability raises the prospect of higher […]

Fed rate cut supports shipping finance

Lowered rates a potential boost to trade demand The US Federal Reserve reduced interest rates by 0.25%, last week, with the possibility of further cuts before year-end. Lower rates support asset values, reduce financing costs, and improve access to capital for owners and operators. For shipping, this creates a more favourable financing environment across all […]

OPEC+ increases production

Tanker demand supported by longer hauls, increased volumes OPEC+ members confirmed last week that they would continue to unwind production cuts, adding new volumes to the market. Additionally, Iraq and the Kurdish regional government reached an agreement to restart pipeline exports through Turkey, restoring roughly 230,000 barrels per day that had been offline since 2023.  […]