Tensions persist, but diplomatic momentum is building

US-China trade friction, Israel–Hamas ceasefire, Russian oil sanctions, and renewed Middle East energy flows shaped October developments Geopolitical developments in October were driven by escalating US-China trade tensions, new sanctions targeting Russian oil, and an improvement in regional stability in the Middle East. Tariffs, port fees, and export restrictions from both the United States and […]

Stable Activity amid US-China trade tensions

Global car sales show modest growth, but fleet expansion continues to outpace trade volumes Global car carrier activity remained stable through October, supported by steady EV exports and the continued diversification of automotive production hubs across Asia and Latin America. However, trade policy shifts and soft vehicle demand continued to shape market sentiment. In the […]

Market softens amid shifting trade dynamics

Aramco price cuts, US sanctions, and Panama Canal disruptions shape LPG flows The LPG market softened through October as geopolitical, and policy shifts reshaped trade patterns and constrained near-term activity. While fundamentals such as US export strength and Asian import growth remain supportive, short-term sentiment was weighed down by price adjustments and sanctions, driving logistical […]

Rates surge amid tight tonnage and trade disruptions

New sanctions, firm OPEC+ output, and rerouted Russian flows drive market strength The tanker market maintained strength through October, supported by resilient demand for long-haul crude transport and firm OPEC+ production. VLCC, Suezmax, and Aframax segments all saw further gains, with VLCC fixtures on key routes exceeding USD 100,000 per day and Suezmax earnings holding […]

EMF operating fleet map

See where the EMF vessels are going at this very moment Athenian Star Currently located in the Gulf of Mexico. Enroute from Corpus Christi, United States to Bunbury, Australia, linking US Gulf production with Asia-Pacific demand. Corpus Christi, United States – The largest crude oil export hub in the US, handling more than half of […]

EMF hosts two successful seminars in September

October seminars underway in Copenhagen and Stavanger In September, we hosted seminars in Copenhagen and Oslo bringing together partners and participants to discuss market developments and outlooks across the tanker and PCTC segments. The seminar provided an opportunity to share updates on our ongoing projects, highlight portfolio progress, and exchange perspectives on the broader shipping […]

From sanctions to tariffs

– Geopolitics rewrites trade flows Policy shifts, trade tensions, and security risksSeptember underlined how geopolitics continues to reshape global shipping. Washington linked deeper sanctions on Russia to Europe’s energy dependence, while China pushed back against US tariff threats. These developments reinforce the trend of crude and product flows shifting eastward. A vessel attack near Aden […]

Asian vehicle exports anchor PCTC trade

Strong Chinese and Korean flows offset tariff uncertainty The car carrier market is entering a new phase. After a couple of years of super-cycle dynamics, charter rates are easing from record highs yet remain materially above long-term averages, a pattern we have recorded for the last year. Charter rates have now stabilized, supported by sustained […]

Gas Carriers: Firm LPG trade and ammonia momentum

Transpacific trade flows contribute to stability Firm momentum in gas carriersThe gas carrier market remained resilient in September, with steady demand supporting firm earnings and a constructive outlook. While regional trade patterns fluctuated, transpacific flows and the broader role of LPG in energy markets provided stability. LPGThe VLGC market held firm through September, supported by […]

Strongest month in years for crude tankers

VLCC highs, OPEC+ production gains, and low fleet growth set the stage for continued strength September marked one of the strongest months in the recent tanker cycle. VLCC earnings on the Middle East-China route climbed to their highest level since late 2022, equivalent to more than USD 6.6 million per average voyage, roughly 150 percent […]