Geopolitics and tight tonnage underpin tanker markets

Suezmax earnings at a three-year high Tanker: Exceptionally strong week following geopolitical speculationTanker markets strengthened sharply over the week, driven by a surge in crude tanker earnings and tightening tonnage availability across key loading regions. The ClarkSea Index rose 11% week-on-week to USD 31,606 per day, marking the largest weekly increase since early 2021. Fleet […]

Firm tanker earnings anchor broader market stability

Auto export growth supports PCTC demand; VLGC markets remain firm Tanker: Crude tanker markets re-ignite on Middle East fixingTanker markets rebounded strongly over the week as activity picked up following the holiday slowdown. Earnings rose, driven by increased Middle East Gulf fixing and tighter tonnage availability, with fleet-weighted average earnings climbing around 45% week-on-week to […]

Venezuela developments alter tanker market dynamics

Re-marketing of Venezuelan crude drives structural change in tanker supply Developments in Venezuela are reshaping global tanker dynamics following the US-led seizure and re-marketing of the country’s oil exports. Commodities traders Vitol and Trafigura have reportedly received authorisation to begin marketing Venezuelan crude, with early discussions underway with buyers in China, India, and the United […]

Iran unrest impacts oil markets

Rising geopolitical risk skews sentiment to the upside Geopolitical tensions surrounding Iran continue to intensify, with President Trump signalling a tougher stance toward the capital Tehran, including a proposed 25% tariff on goods from countries “doing business” with Iran. While there are no confirmed disruptions to Iranian crude exports at this stage, the rhetoric has […]

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 […]