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 the VLGC and PCTC markets has been limited, with minimal rate movements from last week. However, exciting developments are coming up for the ammonia segment, which you can read more about here.

Worldwide car sales set for 3% annual growth

Looking ahead in the PCTC market, GlobalData forecasts global light vehicle sales to grow by more than 3% year-on-year, reaching 91.6 million units in 2025. While potential US trade tariffs present risks to global trade and economic growth, lower interest rates, new car model launches, and competitive market forces are expected to support steady sales growth throughout the year.