VLGC stability and ammonia growth
VLGC upside may have to wait until US export increase in Q3/4 This month, the VLGC market remained stable, hovering around $30,000 per day amid limited arbitrage opportunities. The soft market so far this year has been driven by reduced activity, but rates may rebound post-winter as arbitrage improves. Fearnley Securities sees upside potential in […]
Geopolitical shifts drive tanker market surge
Earnings thrive in volatile beginning to 2025 This month, the tanker market experienced significant volatility, driven by tariff announcements, new sanctions on tankers transporting Iranian and Russian crude, and broader geopolitical disruptions. These events have pushed crude tanker earnings – led by the VLCC segment – to more than $40,000 per day, up 50% since […]
China’s ammonia strategy boosts VLAC demand
Government aims to convert 10% of coal power to ammonia by ‘27 China’s renewable ammonia co-firing strategy is set to drive significant demand for ammonia transport, benefiting the Very Large Ammonia Carrier (VLAC) market. As part of its 2024-2027 economic action plan, China aims to retrofit coal power plants to co-fire at least 10% ammonia […]
New tanker sanctions tighten worldwide supply
Rates boost is expected as further vessels are blacklisted The US has blacklisted 13 more tankers, including five VLCCs, while the EU has added 65 tankers to its list, further restricting sanctioned crude exports. These sanctions on shadow fleet tankers are set to increase demand for mainstream vessels, according to Fearnley Securities. Pronounced decline for […]
Solid week for tanker market
Product market strenghtens – VLGC and PCTC remain stable This week has been relatively calm for the tanker segment. Suezmax earnings softened slightly week-on-week, with modern scrubber-fitted Suezmaxes Spot still strong at $45,000 per day on average. The product tanker market has shown some strengthening, with average earnings in the mid-$20,000s per day. Meanwhile, activity in […]
EU boost for maritime fuel transition
European Commission set for €422m clean fuel infrastructure investment The European Commission is directing €422 million toward 39 projects under the Alternative Fuels Infrastructure Facility with a strong focus toward expanding clean fuel infrastructure, including maritime applications. Key investments include onshore power supply in ports, hydrogen refuelling, and infrastructure for ammonia and methanol as next-generation […]
Gearing up towards a stronger 2026
Modest 2025 expected as US export constraints remain Soft LPG markets may persist in 2025, in particular throughout the year’s first six months. An LPG carrier fleet growth of 3.6% (excl. VLECs) is expected to outpace the combined LPG and ammonia tonne-mile trade growth of 1.8% this year. The growth in demand is primarily limited […]
VLCC rates could reach $80,000 per day
US sanctions on Iran causing further boost in demand According to analysts from Clarksons and Braemar, spot rates for the largest crude tankers may surge to up to $80,000 per day as President Donald Trump’s administration tightens sanctions on Iranian oil exports. The crackdown is expected to shift more crude shipments to mainstream tanker fleets, […]
Tanker market strengthens overall
Suezmax leading the pack as rates increase once more The tanker market remains strong this week, with the Suezmax segment seeing the most remarkable increase. According to Fearnleys, Suezmax spot rates have risen by 16% week-on-week, surpassing $50,000 per day. The Aframax and LR2 markets have also shown firm improvements. Gas, car markets holding firm […]
Trump pushes for Ukraine peace talks
The impact of a potential truce will vary across different tanker segments This week, US president Donald Trump called for immediate Ukraine peace negotiations after a “highly productive” 90-minute call with Vladimir Putin. Ukraine’s president Zelenskyy also spoke with Trump, expressing hope for “lasting peace”. Scrapyard-bound Russian fleet may boost market after detente While crude […]
