VLGC outperformance highlights tightening LPG market

Crude earnings climb 16% week-on-week, reinforcing broad strength across tanker markets Tanker: Geopolitical risk and weather disruption drive strongest earnings in yearsThe tanker market strengthened sharply this week, led by VLCC and Aframax segments, as heightened geopolitical risk in the Middle East and persistent weather disruption tightened prompt tonnage availability. Charterer activity accelerated toward the […]

Venezuelan crude enters the mainstream market

Exports picking up rapidly following US intervention Venezuelan crude is re-entering the mainstream oil market following a new US-brokered export framework that allows traders to market up to 50m barrels of crude. Trafigura and Vitol have secured the first licences and are actively moving barrels, including the first direct shipment from Venezuela to the US […]

Aframax segment delivers standout performance

Strong Aframax performance, PCTC remains firm, and geopolitics influence flows Tanker: Aframax segment experiences strongest week in yearsThe tanker market remained firm overall, led by an exceptional week for the Aframax segment, where earnings surged across key routes amid tight tonnage availability and weather-related disruption. North Sea, Mediterranean and US Gulf markets all saw strong […]

Iran and Middle East security reshape tanker flows

Iran’s oil exports face both internal and external pressures Market focus around Iran has largely centred on military escalation and chokepoint risk in the Strait of Hormuz, but the more relevant supply risk is increasingly domestic. Iran is currently producing close to 5 million barrels per day of crude and other petroleum liquids, near multi-decade […]

Iran pressure puts China at the centre of crude trade shifts

US policy uncertainty raises volatility as Chinese buying patterns shape tanker demand Oil prices edged modestly higher over the week, supported by renewed geopolitical uncertainty linked to Iran. Brent traded around USD 64 per barrel and WTI near USD 60 per barrel as markets reacted to US signals of a tougher stance toward Tehran, including […]

Global momentum builds behind ammonia as a marine fuel

Norway accelerates ammonia readiness Norway continues to lead on ammonia adoption through targeted government support. Azane Infrastructure has secured approximately USD 43 million in ENOVA funding to develop three ammonia bunkering terminals along the Norwegian coast at Florø, Stavanger, and Mongstad. Expected to come online by 2029, these facilities are designed to provide the fuel […]

Geopolitics and tight tonnage underpin tanker markets

Suezmax earnings at a three-year high Tanker: Exceptionally strong week following geopolitical speculationTanker markets strengthened sharply over the week, driven by a surge in crude tanker earnings and tightening tonnage availability across key loading regions. The ClarkSea Index rose 11% week-on-week to USD 31,606 per day, marking the largest weekly increase since early 2021. Fleet […]

Firm tanker earnings anchor broader market stability

Auto export growth supports PCTC demand; VLGC markets remain firm Tanker: Crude tanker markets re-ignite on Middle East fixingTanker markets rebounded strongly over the week as activity picked up following the holiday slowdown. Earnings rose, driven by increased Middle East Gulf fixing and tighter tonnage availability, with fleet-weighted average earnings climbing around 45% week-on-week to […]

Venezuela developments alter tanker market dynamics

Re-marketing of Venezuelan crude drives structural change in tanker supply Developments in Venezuela are reshaping global tanker dynamics following the US-led seizure and re-marketing of the country’s oil exports. Commodities traders Vitol and Trafigura have reportedly received authorisation to begin marketing Venezuelan crude, with early discussions underway with buyers in China, India, and the United […]

Iran unrest impacts oil markets

Rising geopolitical risk skews sentiment to the upside Geopolitical tensions surrounding Iran continue to intensify, with President Trump signalling a tougher stance toward the capital Tehran, including a proposed 25% tariff on goods from countries “doing business” with Iran. While there are no confirmed disruptions to Iranian crude exports at this stage, the rhetoric has […]