Strong crude tanker rates as US–China tensions affect car trade
Tanker strength offsets softer LPG and PCTC performance amid trade and policy turbulence Tankers: Rates remain elevatedSuezmax rates have reached their highest levels in nearly two years, with several routes exceeding USD 90,000/day amid firm sentiment across key regions. Both VLCC and Aframax segments also remain firm, with overall average earnings holding at an impressive […]
IMO votes on carbon tax
Trump officials take combative approach to climate diplomacy On Thursday, the International Maritime Organization (IMO) voted on the Net-Zero Framework, which combines greenhouse gas limits with fees and subsidies to decarbonize shipping. Donald Trump has strongly opposed this framework, calling it an “unsanctioned global tax regime,” arguing it would raise costs for businesses and consumers. […]
Israel and Hamas announce ceasefire
Reduced tension could lower premiums and restore confidence in Suez transits A ceasefire between Israel and Hamas took effect this week, drawing increased focus on the potential easing of disruptions in the Red Sea. For now, shipping companies remain in a wait-and-see stance, with no immediate changes in routing patterns anticipated. However, the ceasefire is […]
US-China trade war intensifies with Chinese port fees
New fees on opposite part’s vessels announced China released export restrictions for rare earth minerals and other raw materials last Thursday, with the potential to impact the global economy through increased expenses for large US tech companies reliant on these materials in production. Trump quickly retaliated threatening a 100% tariff on November 1st on top […]
Mixed week overall for shipping segments
Geopolitics disrupting goods trade – crude market improves Tankers: Earnings rebound after demand increaseCrude tanker sentiment strengthened after last week ‘s softness. Average VLCC earnings rebounded by 26% week-on-week, supported by firmer demand and limited tonnage. Suezmax rates also rose slightly, while Aframax markets remained active in the North Sea and Mediterranean.The US sanctioned a […]
China tightens controls on shadow fleet tankers
New restrictions in Shandong aim to limit sanctioned oil trades and raise environmental standards From 1 November, terminal operators in eastern China’s Huangdao Port will enforce stricter controls on aging and high-risk vessels, including those linked to sanctioned oil shipments. The policy bans tankers over 31 years old, ships using fake IMO numbers, and vessels […]
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 […]
