Iran sanctions intensify as Gulf shipping risks rise

Iranian exports remain reduced, with significant risk attached to transiting the Strait of Hormuz. Sanctions replace military pressure as the main instrument US Treasury Secretary Scott Bessent is expected to announce new economic measures against Iran on Monday, shifting the focus from further military action towards sanctions. The measures could target Iran’s largest trading partners, […]

Suezmax Earnings Outperform VLCCs as Atlantic Crude Flows Grow

Suezmax earnings have averaged above VLCC levels in 2026 as growing Atlantic crude exports favour smaller cargo parcels and vessel availability remains tight. Suezmax earnings have outperformed VLCCs throughout 2026 Suezmax earnings rose 15% week over week to approximately $238,000 per day, matching VLCC earnings despite carrying roughly half the cargo. The strength extends beyond […]

Secondhand vessel values rise above newbuilding prices

Limited availability of prompt tonnage is pushing buyers to pay a premium for ships that can trade today, while newbuildings ordered now will not deliver until 2029. Delivery timing is driving a widening premium for modern tonnageSecondhand crude tanker values have risen above newbuilding prices, reflecting the scarcity of vessels available to trade immediately. A […]

Hormuz closure holds as US-Iran tensions persist

Iran has set conditions for reopening that Washington has rejected, keeping Gulf crude exports constrained and tanker earnings elevated. Reopening remains dependent on conditions Washington has rejectedIran’s lead negotiator has stated that the Strait of Hormuz will remain closed until the United States lifts its naval blockade, removes oil sanctions and ends military operations. President […]

Crude earnings remain elevated as the Strait of Hormuz stays closed

Disrupted Middle East loadings are shifting crude demand towards the Atlantic, while constraints in the Panama Canal and limited PCTC supply continue to support rates. Tankers: Suezmax earnings rise to above $200,000 per day as crude demand shifts to the AtlanticSuezmax earnings rose 13% to above $200,000 per day, the highest level this year, driven […]

Changing trade routes shift demand for tanker tonnage

The East-West pipeline is becoming increasingly important to Saudi Arabia’s crude export system as more volumes are shipped from the country’s west coast. Saudi Arabia is increasingly transporting crude through the East-West pipeline to the export terminal at Yanbu on the country’s west coast. From there, crude can be shipped via the Red Sea to […]

Saudi Arabia increases crude exports via Yanbu

The East-West pipeline is becoming increasingly important to Saudi Arabia’s crude export system as more volumes are shipped from the country’s west coast. Saudi Arabia is increasingly transporting crude through the East-West pipeline to the export terminal at Yanbu on the country’s west coast. From there, crude can be shipped via the Red Sea to […]

Shipping markets remain elevated as disruption tightens effective supply

Tanker and gas markets remain supported by constrained trade routes and limited prompt tonnage, while geopolitical disruption continues to reshape vessel availability Tankers: Suezmax rates surge as Atlantic tonnage tightens Crude tanker markets remained exceptionally strong this week, with Suezmaxes taking the lead as Atlantic availability tightened. Average Suezmax rates increased 13% to above $200,000/day, […]

Iran and Oman agree in principle on Strait of Hormuz shipping

A deal between the two nations has been reached in principle that partially reopens the Strait of Hormuz Iran and Oman have spent the past month negotiating new vessel traffic arrangements for the Strait of Hormuz, the world’s most important oil shipping corridor. This week, Iran said the two countries had reached an agreement in […]

Inventory rebuilding extends tanker demand

Aramco assesses that global oil stocks require 18 months to replenish Aramco quantifies a restocking requirement that starts only once the strait reopensAramco’s CEO stated this week that global oil inventories would take up to 18 months to rebuild even if the Strait of Hormuz reopened immediately. More than 2.6 billion barrels have been lost […]