Suezmax rates at highest level in a year
Short supply keeps pushing rates skywards Suezmax tankers are seeing strong earnings again, with rates in the Mediterranean reaching $63,000 per day – the highest in over 12 months. The key driver? A sharp increase in crude oil shipments from Kazakhstan via the Black Sea. Major Tengiz expansion boosts tanker demand.Recent expansions at the Tengiz […]
Ammonia momentum gaining ground
Tomorrow’s fuel – today’s investment object Ammonia continues to gain ground as a preferred zero-carbon fuel, with two major developments this week highlighting growing confidence in the segment. Firstly, six major Japanese companies – including shipping heavyweight MOL – have signed an agreement with India’s ACME Group to explore investment in a large-scale green ammonia […]
Crude market remains strong, hitting a 2025 high
Kazakh exports boost current rates surge The crude tanker market is holding firm, with average weighted earnings now at $35,000 per day – a 14% increase week-on-week and the highest level since June 2024. The upswing is supported by a strong VLCC sentiment, a surge in Kazakh crude exports via the Black Sea benefiting the Suezmax […]
Gaza conflict disrupts Red Sea shipping
Major delays following US strikes in Yemen Shipping through the Red Sea and Suez Canal faces further delays after US airstrikes on Houthi targets in Yemen and Israel’s renewed conflict in Gaza. Analysts now expect it to take at least six more months before major container lines resume normal operations. Most carriers continue rerouting around […]
G7 cracking down on shadow tankers
G7 cracking down on shadow tankers The G7 is stepping up efforts to crack down on the shadow fleet, which now accounts for more than 20% of the global tanker fleet. Foreign ministers have called for expanded satellite-based vessel tracking to monitor illicit ship-to-ship oil transfers and unregistered tankers – many of which are moving […]
VLGC market rebounds strongly
Spot rates surge after a soft start to 2025 After a weaker-than-expected start to the year, the Very Large Gas Carrier (VLGC) market has shown a sharp turnaround in March. Spot rates, which had fallen below $30,000 per day earlier in the year, have now climbed to approximately $40,000 per day. US export infrastructure set […]
Tanker market gains momentum this week
Tariffs and sanctions causing tanker demand to surge The tanker market gained strong momentum, with average earnings rising 11% week-on-week. The Suezmax segment increased with a 23% surge, reaching a nine-month high. Additionally, product tankers saw a notable rise in earnings, further highlighting the market’s strength. This uptrend reflects the broader impact of ongoing trade […]
Egypt signs €7b green hydrogen deal
Another boost for global ammonia shipping fuel demand Egypt has signed a €7 billion agreement with France’s EDF and UAE-based Zero Waste to develop a green hydrogen facility near the Gulf of Suez. The project aims to produce over one million metric tons of green ammonia annually, primarily as a low-carbon shipping fuel for vessels […]
An overview on key market developments
OPEC+ production increase, Tarrifs and possible Russia-Ukraine truce? As last week’s update highlighted, OPEC+ announced its plan to unwind its 2.2 mbpd production cuts introduced in November 2023 to stabilize oil prices. Starting in April, output will increase by 138,000 barrels per day, with an increase of an additional 400,000 barrels per day set for […]
Steady momentum in the tanker market
Suezmax segment shows growth during quiet week overall This week has been relatively quiet across EMF’s key markets – tanker, LPG, and PCTC – with no significant shifts. The tanker market has shown some positive momentum, particularly in the Suezmax segment, which saw a 10% weekly increase. The Middle East Gulf to Mediterranean route via […]
