A volatile week of ups and downs
Tariffs create uncertainty – tanker market remains strong Tanker market conditions remain healthy, with average crude tanker earnings rising above $53,000 per day for the first time in 11 months. The gain was driven by further strength in Suezmax and Aframax rates. Meanwhile, product tanker earnings eased by 8% week-on-week to $22,007 per day, as […]
Trump’s “Liberation Day” and its impact
How will the US tariff spree affect the shipping market? The US has unveiled a new wave of tariffs aimed at reshaping global trade flows. A standard 10% duty will apply to all imports, with steeper rates targeting countries with the most significant trade imbalances – including China at 34%, the EU at 20%, and […]
Massive OPEC+ output increase announced
Production cuts rolled back, boosting the tanker market OPEC+ caught the market by surprise this week, announcing a production increase of 411,000 barrels per day for May – much higher than the expected 135,000 bpd. The group is accelerating its plan to unwind earlier production cuts, responding to stronger demand and potential supply risks from […]
Kazakh exports boost tanker market
Rates remain solid as key Black Sea oil terminals are set to reopen The tanker market remains firm, supported by gains in the Suezmax and Aframax segments, as Russian courts cleared the full reopening of key Black Sea oil terminals. Following the earlier shutdown of two loading points, the resumption of oil exports from Kazakhstan […]
Modest March activity, but rates remain healthy
Chinese car sales booming as US tariffs loom Unlike the more dynamic movements seen in the tanker and LPG markets, the PCTC segment remained relatively quiet throughout March — something that’s not unusual for this sector, which tends to be more stable by nature. 2025 off to quiet but healthy startWhile time charter rates have […]
LPG market rebounds firmly after slow start
Bright future beckons for ammonia as shipping fuel March brought steady progress across the LPG and ammonia segments, with clear signals that longer-term fundamentals – particularly for ammonia – continue to strengthen. LPG: Recovery underwayThe VLGC market recovered this month, with spot rates climbing back to around $40,000 per day -up from softer levels earlier in […]
March – a lucrative month for the tanker market
Outlook for Q2 remains positive The crude tanker market continued to strengthen throughout March, underpinned by a tightening pool of compliant vessels, shifting trade flows, and solid underlying demand. Spot earnings climbed steadily across key segments, with Suezmax and Aframax tankers leading the way. Kazakh crude expansions boost Suezmax segment …Mid-sized crude tankers have seen […]
Eastbound Canadian crude lifts Aframax market
US oil tariffs driving trade toward longer routes Aframax earnings continue to climb – this time driven by a sharp shift in Canadian crude exports. Recent US tariffs on Canadian oil have redirected barrels away from the US Gulf and toward Europe, with buyers in the UK and Netherlands stepping in to secure alternative supply. […]
Shrinking compliant tanker fleet
Market strengthens as sanctions take effect We’re now seeing the positive effects of a market dynamic we’ve been observing for some time: the shrinking pool of compliant tankers. As sanctions continue to divide the global fleet into two categories – compliant and non-compliant (which includes both shadow and sanctioned vessels) – the number of ships […]
Market Snapshot: Tankers stay firm
Demand for Canadian crude oil driving transatlantic trade The tanker market remains strong this week, with rates ticking higher – driven primarily by gains in the Aframax segment. This strength is linked to increased demand for Canadian crude heading east to Europe, as Aframaxes take on a growing share of these transatlantic and regional trades (Read […]
