Positivism returns after recent market stabilization The PCTC market has started 2025 on a quieter note, following record-breaking years. Time charter rates have softened, driven by slower growth in Chinese car exports and the anticipation of several new vessel deliveries in 2025. After this rebalancing, the outlook now remains positive for the months ahead. In December, new car registrations in the EU increased by 5% year-on-year, with Spain leading at an impressive 29% growth. While Germany and Italy saw modest

Ammonia-ready vessels making up over 10% of global orderbook The ammonia segment has seen notable progress this January, reinforcing its potential as a key marine fuel. Ammonia’s ability to enable zero-emission shipping when produced from green hydrogen has made it a popular choice among shipowners. Currently, 10.4% of the global orderbook is ammonia-ready according to Green Technology Tracker, showing strong industry interest in this fuel. WinGD ammonia engine set for summer unveiling This month, Swiss engine manufacturer WinGD announced that

Volatile month ends on high rates, even after late market drop-off January has been an active and volatile month for the tanker market. The geopolitical events surrounding new US sanctions, targeting vessels transporting Iranian and Russian oil above the price cap, caused tanker rates to spike sharply earlier in January. Nearly 400 tankers – around 10% of the global fleet – were added to the sanctions list, with some Indian and Chinese ports refusing these ships. This removal of capacity

Solid vessel resale values during subdued week for VLGC segment It was a quieter week in the VLGC spot market, with rates declining in both regions. Earnings on the Ras Tanura-Chiba route dropped 23% week-on-week to $30,708/day, although rates from the Middle East Gulf showed slight recovery signs by Friday.   2001 VLGC vessel sold on for $48m This week saw the sale of a 2001-built non-eco VLGC for an impressive $48 million, according to Clarksons. This transaction highlights the

Lower prices and colder weather fuelling growth In its latest report, the IEA noted that global oil demand rose in Q4 2024, driven by lower fuel prices, colder weather, and ample petrochemical feedstocks, marking the strongest growth since the second half of 2023. The IEA Oil Market Report (OMR) is recognized as one of the world’s most authoritative and timely sources of data, forecasts, and analysis of the global oil market. Depleted reserves could see upturn in months to come

Rates decrease as January ends After a strong start to 2025, driven by sanctions and geopolitical events, the tanker market saw a quieter week with a general softening across key segments. Particularly in the West, Suezmax rates experienced downward pressure due to reduced activity and a surplus of available tonnage. Downturn caused by sudden drop in demand Similarly, Aframax rates remained steady in the UK-Continent, but softened in the Mediterranean after an initial burst of short-haul demand faded toward the

2025 off to hectic and lucrative start The tanker market has experienced significant activity in recent weeks, driven by the Trump presidency, sanctions, and geopolitical developments like the recently announced ceasefire in the Middle East. According to Clarksons, Aframax rates in the Far East have surged to $150,000–200,000 per day due to limited tonnage. Recent sanctions have sidelined numerous Aframax vessels that were previously involved in this trade. U.S. crude exports set to rise – tanker demand to follow These

Amerikanske sanktioner får tankrater til at stige voldsomt Grounds for optimism after new car sales spike in December This December, new car registrations in the EU rose by 5% year-on-year, Spain leading the way with an impressive 29% growth. Although Germany and Italy experienced modest declines, the overall performance stabilized annual EU car registrations, which grew by 0.8% in 2024 after a record-high growth in 2023. Steady growth expected for year ahead As 2025 begins, global car sales are expected

More renewable ammonia projects in the offing VLGC rates remain steady, holding in the $35,000–$40,000/day range, well above break-even levels. With the market covered throughout January, optimism for further rate increases in February prevails as demand remains strong. CIP to break ground on Mexico ammonia project in 2026 Copenhagen Infrastructure Partners (CIP) is advancing its renewable ammonia project in Mexico, which will produce 900,000 tons of renewable ammonia per year, using wind and solar energy. The project, set to begin

Solid week for VLGC market Optimism over further rates increases throughout January The latest week has been a good, if quiet period for the VLGC market with current average spot market rates at more than $40.000 /d. The Western market has been bolstered bycharterers and a thinning tonnage list, resulting in increased earnings. Overall, the market seems covered throughout January, and hopes for further increases prevail. Source: Clarksons Research Fleet