Oil oversupply continues to cap prices
Geopolitical pressure reducing Russian crude export Speculation is growing that India may reduce purchases of Russian crude under mounting US pressure, following tariff threats from Washington and new reporting requirements for Indian refiners. Early January data already points to softer Russian flows, with bookings well below recent averages. Despite ongoing geopolitical risks, oil markets remain structurally oversupplied. […]
Venezuela re-emerges as a swing factor for crude tankers
Will Venezuelan crude return to the mainstream oil trade? Venezuela has returned to focus as oil production and exports softened late last year and vessel seizures added fresh uncertainty to trade flows. Most crude continues to move on restricted tonnage, limiting transparency and muting the immediate impact on mainstream tanker demand. For now, the effect […]
Early-year softness, fundamentals intact
Markets remain firm over New Year as focus turns towards Venezuela Tankers: Rates softened across the board Tanker markets softened further this week, with the ClarkSea Index easing for a fifth consecutive week to $28,090 per day. VLCC earnings declined materially from late-2025 highs, with fleet-weighted averages falling to around $44,000 per day amid limited activity and continued charterer control. Suezmax markets […]
Black Sea shipping risk escalates after Russian strikes
Seaborne trade and energy assets crucial to hostilities Maritime risk in the Black Sea escalated sharply over the weekend after Russia launched one of its largest attacks on Ukrainian port infrastructure, damaging commercial vessels and disrupting operations around Odesa and Chornomorsk. Two Turkish-controlled ships were struck in separate incidents, including a ferry alongside port infrastructure […]
Venezuelan exports stall after US seizure
Heightened sanctions enforcement disrupts Venezuelan exports as mainstream tanker demand edges higher Venezuelan crude exports have fallen sharply following the recent US seizure of a sanctioned VLCC, with tanker movements in and out of the country now reportedly close to a standstill as owners reassess enforcement risk. Shipping data indicates that around 11 million barrels […]
Tanker markets staying strong, slight increase in VLGC earnings, steady PCTC market
Balanced supply dynamics support freight markets across segments Tanker: Continued strength in firm crude marketsIn the Suezmax segment, off-market fixing allowed charterers to cover prompt requirements with only limited rate upside, though tightening tonnage is beginning to support a more constructive near-term outlook. Aframax markets showed mixed regional dynamics, with softer conditions in the North […]
How Black Sea escalation fuels new pressure on the Russia-Ukraine war
Increases in maritime war-risk insurance and intensified naval attacks deepen the conflict’s global economic and security fallout Recent strikes by Black Sea maritime forces have triggered a dramatic spike in war-risk premiums for ships and tankers operating in the region. Within the past month, insurance costs for vessels calling at Black Sea ports have nearly […]
Crude tankers strengthen as clean-to-dirty switching tightens supply
Record crossover activity and longer haul trade patterns reinforce a constructive crude tanker outlook The crude tanker market has built sustained strength in recent weeks, supported by one of the most significant clean-to-dirty shifts seen in recent years. In November alone, thirty-three product tankers moved into crude trades as spot earnings for crude tonnage surged […]
Strength in Aframax and VLGC segments anchors shipping markets
Elevated risk premiums on Russian trades, steady PCTC rates, and improving VLGC sentiment Tanker: Aframax strength uplifts tanker segmentIt was another strong week for tankers, even though the overall average eased slightly due to setbacks in the VL and Suezmax markets. VLCC rates declined as delays in China slowed vessel resupply, creating port congestion. Suezmax […]
OPEC+ holds steady as supply risks support crude sentiment
Stable quotas meet emerging disruptions, helping steady the market after weak month OPEC+ has confirmed that production targets will remain unchanged through the first quarter of 2026, maintaining just over 3 million barrels per day of cuts. The group cited a stable economic backdrop and generally supportive fundamentals, with inventories still at low levels. A […]
