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 start
While time charter rates have eased from the record highs of 2023 and 2024, they continue to trade at strong levels well above breakeven, offering healthy returns and supporting the segment.

US tariffs a potential for disruption
One development worth monitoring is the US announcement of a 25% import tariff on cars and light trucks manufactured outside the country, which is scheduled to take effect from April 3rd. Given the United States’ position as a major importer of European, Japanese, and Chinese vehicles, this could lead to future trade flow changes.

Huge rise in Chinese car exports
On a more positive note, Chinese vehicle exports rose nearly 20% year-on-year in the first two months of 2025, reaching approximately 880,000 units. The most substantial growth was seen in exports to the Middle East (+82%), followed by Europe (+8%), while exports to Russia declined by around 20%.

Last, but not least: Electric Star delivered!
We’re also pleased to share progress on our own PCTC fleet development. Our first vessel, Electric Star, was successfully delivered earlier this month. The second vessel, Green Star, is on track for launch in mid-April, with expected delivery in early summer 2025. Construction is proceeding as planned.