Two markets in one as the US-Iran Deal reshapes LPG trade

Four months after the US became the world’s default LPG supplier, the gradual reopening of the Strait of Hormuz is setting up a competition for Asian buyers that will define the VLGC market through the second half of 2026 The conflict reshaped LPG trade flows; the deal will not simply reverse themBefore the conflict, the […]

Chinese export volumes absorb fleet growth

Halfway through 2026, a PCTC market that was widely expected to tip into oversupply has instead tightened further, as Chinese export volumes and European EV adoption continue to outrun a record wave of newbuilding deliveries Demand has answered the supply question, at least for nowThe PCTC segment entered 2026 with a clear bearish consensus: a […]

Carbon Costs become real as regulatory timelines advance quietly

The EU ETS reached full compliance for maritime transport this year, while the IMO edges closer to a global carbon price, even as the Hormuz crisis dominates industry attention 2026 is the year maritime carbon costs become operationalShipping companies operating in Europe now pay for 100% of their greenhouse gas emissions, up from 40% in […]

The US-Iran deal offers a path forward, but the Strait remains contested

The US-Iran agreement was supposed to end the war and reopen the Strait of Hormuz. Two weeks later, both sides are accusing each other of breaking it The deal that was meant to end the crisis may be just the beginning of a new oneOn 17 June, the United States and Iran signed a memorandum […]

A deal is signed, but the tanker market has already been reshaped

The US-Iran agreement marks the beginning of a normalisation process, not the end of one, and the structural changes in global crude flows will support tanker demand well beyond the reopening The largest rerouting of crude trade in modern history enters a new phaseThe US-Iran memorandum of understanding signed on 18 June represents the most […]

EMF operating fleet map

See where the EMF vessels are going at this very moment Freeport Star        Currently located in the Gulf of Mexico Was enroute from New York, USA to Houston, USA The Port of Houston sits at the heart of the largest petrochemical complex in the world, making it one of the most critical energy shipping hubs […]

Leadership Appointments – June 2026

EMF has made a number of leadership appointments as part of the continued strengthening of its governance framework Peter Kubicki has been appointed Chief Executive Officer, bringing experience across banking, financial services, and regulated investment management. Stephen Schueler has been appointed Chairman of the Board, with a background that includes senior leadership roles at A.P. […]

Low Inventories Point to Extended Period of High Fleet Utilization

The world has been running on reserves for months; refilling them will keep tankers and gas carriers busy well into 2027 The rebuild requirement is large and will take timeSince the Strait of Hormuz was effectively closed in late February, the world has been drawing heavily on stored oil and gas to meet demand, depleting […]

Hormuz Open in Parts, Not in Full

Traffic rebounded sharply after the June 18 MOU, but Iran’s re-declared closure on June 20 A partial reopening, not a return to normalWhen the US-Iran memorandum of understanding was signed on June 17, shipping activity recovered quickly: Kpler recorded 93 transits over the June 19-21 weekend, up from 32 the prior weekend, with US CENTCOM […]

Svindende lagre tyder på længere periode med høj flådeudnyttelse

Verden har tæret på lagrene i månedsvis – genopbygningen vil holde tank- og gasskibe beskæftiget langt ind i 2027 Behovet for lagergenopbygning er omfattende og vil tage tidSiden den reelle lukning af Hormuzstrædet i slutningen af februar har verden i høj grad tæret på oplagrede olie- og gasreserver for at dække efterspørgslen. Det har reduceret […]