Tankers: Crude oil tankers with strong momentum, driven by VLCCs
VLCC earnings increased by 14% last week, supported by limited availability in the Atlantic and a recovery in US Gulf–China volumes. Although gains in the Suezmax and Aframax segments were more moderate, both recorded increases, and analysts estimate that these segments will continue at firm levels the period ahead. Average spot earnings across the crude segment are now at their highest level in nearly two years.

LPG: Firm sentiment supported by exports
The VLGC market remained firm last week, underpinned by steady export activity from the US Gulf. According to Clarksons, spot earnings continue to trade at elevated levels, while one-year time charter assessments are gradually improving. The market is supported by stable transpacific flows and a resilient demand outlook.

Car carriers: Rates stable amid resilient trade
The car carrier market remains well supported. According to Clarksons, time charter rates for 6,500 CEU vessels are assessed at around USD 45,000 per day. Market fundamentals remain intact, reflecting sustained auto trade flows and consistent global vehicle production.

Macro & geopolitics: Oil supported by policy and disruptions
Oil prices edged higher last week, shaped by a combination of monetary policy and geopolitical developments. The US Federal Reserve reduced interest rates by 0.25%, while China resumed imports of US crude, lifting exports to their highest level in nearly two years. At the same time, Ukrainian strikes on Russian refineries reduced refining capacity and export revenues. The announced OPEC+ supply increase has been offset by these disruptions, as well as refinery outages in the US and Europe, keeping the outlook supported.