Tanker rates surge as geopolitical factors remain crucial throughout the market

Port fees and sanctions loom large; tanker rates still soaring Tanker: Continued strength, positive forward outlookThe tanker market reflects a positive outlook, with strong rates across VLCC, Suezmax and Aframax segments following a slow start to last week. The Aframax market had a very strong week with an overall increase of 13%. Long haul cargoes […]

IMO delays adoption of Net-Zero framework

Implementation postponed following resistance from key member states and the US under Trump Last week, the International Maritime Organization (IMO) voted to postpone the adoption of its Net-Zero framework until 2026. The framework was expected to introduce a carbon pricing system rewarding cleaner ships while penalising higher emitters. However, opposition from several member states, including […]

US sanctions major Russian oil producers

New sanctions expected to be positive for the tanker market This week, the United States intensified sanctions on Russia by targeting its two largest oil producers, Rosneft and Lukoil, which account combined for roughly 55% of national output. With previous measures already covering another 20% through Surgutneftegas and Gazprom, close to three quarters of Russian […]

The Kirkuk-Ceyhan pipeline reopens

Pipeline resumption supports Aframax/Suezmax activity amid political uncertainty in northern Iraq The reopening of Iraq’s Kirkuk-Ceyhan pipeline has returned about 180 kb/d of crude to Mediterranean trade, with exports set to rise to 230 kb/d by early 2026. Recent liftings have mainly involved Aframaxes and Suezmaxes bound for Turkish and Greek refiners, supporting short-haul employment […]

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 […]