{"id":55012,"date":"2026-01-08T09:26:40","date_gmt":"2026-01-08T08:26:40","guid":{"rendered":"https:\/\/maritimefinance.eu\/?p=55012"},"modified":"2026-01-09T11:27:54","modified_gmt":"2026-01-09T10:27:54","slug":"early-year-softness-fundamentals-intact","status":"publish","type":"post","link":"https:\/\/maritimefinance.eu\/da\/early-year-softness-fundamentals-intact\/","title":{"rendered":"Early-year softness, fundamentals intact"},"content":{"rendered":"
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\"Early-year\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Markets remain firm over New Year as focus turns towards Venezuela<\/span><\/h4>

Tankers<\/strong>:\u00a0Rates softened\u00a0across the board<\/strong>\u00a0
Tanker markets softened further this week, with the\u00a0ClarkSea\u00a0Index easing for a fifth consecutive week to $28,090 per day. VLCC earnings declined materially from late-2025 highs, with fleet-weighted averages falling to around $44,000 per day amid limited activity and continued charterer control.\u00a0Suezmax\u00a0markets also softened on reduced enquiry, particularly in the Black Sea and West Africa, while Aframax markets were mixed, with firmer cross-UKC rates offset by weaker Mediterranean conditions. Despite the near-term pullback, tanker earnings\u00a0remain\u00a0structurally strong and comfortably above long-term averages.\u00a0The market is expected to bounce back during the\u00a0next month, as activity picks up.\u00a0<\/p>

LPG \/ VLGC<\/strong>:\u00a0Spot earnings strengthened on tighter availability<\/strong>\u00a0
The VLGC market strengthened this week, supported by active Middle East fixing and a lack of prompt tonnage in the Atlantic Basin. Earnings on the benchmark Ras Tanura-Chiba route rose to approximately $68,000 per day, the highest level since August, with elevated Panama Canal auction costs continuing to encourage longer Cape routings. Forward fixing in the US remained firm, contributing to a balanced tonnage list moving into mid-January and underpinning constructive near-term sentiment in the LPG segment.\u00a0<\/p>

PCTC<\/strong>:\u00a0Rates held steady amid limited spot activity<\/strong>\u00a0
PCTC markets remained stable over the holiday period, with\u00a0timecharter\u00a0rates holding broadly flat following the exceptional strength seen earlier in the cycle. While spot activity was limited, underlying fundamentals\u00a0remain\u00a0supportive, with tight vessel availability, a\u00a0relatively low\u00a0orderbook, and resilient global vehicle trade flows providing a firm backdrop into early 2026.\u00a0Charterer\u00a0interest in period coverage\u00a0remains\u00a0selective but persistent, supporting rate stability despite seasonal quiet.\u00a0<\/p>

Geopolitical<\/strong>:\u00a0Venezuela remains in focus, with limited immediate market impact<\/strong>\u00a0
Geopolitical developments continued to influence shipping markets, with US sanctions pressure reportedly halving Venezuelan oil exports in December to around 0.5 million barrels per day\u00a0(down from 2 million barrels\u00a0p.d.\u00a0recorded in 2016), tightening regional crude supply and adding complexity to Atlantic Basin tanker trade flows. Venezuela also\u00a0remains\u00a0in focus following the reported US attack and capture of President Maduro, with oil\u00a0emerging\u00a0as\u00a0a central point\u00a0of discussion, though immediate impacts on the tanker and broader oil market have yet to\u00a0materialise. At the same time, elevated Panama Canal costs and ongoing regional security risks continue to affect routing decisions, tonne-mile demand, and vessel deployment across energy and gas shipping markets as the year begins.\u00a0<\/p><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Sources: <\/span><\/i><\/i>Clarksons\u00a0& Reuters<\/i>
<\/span><\/i><\/i>\u00a0<\/span><\/i><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

Markets remain firm over New Year as focus turns towards Venezuela Tankers:\u00a0Rates softened\u00a0across the board\u00a0Tanker markets softened further this week, with the\u00a0ClarkSea\u00a0Index easing for a fifth consecutive week to $28,090 per day. VLCC earnings declined materially from late-2025 highs, with fleet-weighted averages falling to around $44,000 per day amid limited activity and continued charterer control.\u00a0Suezmax\u00a0markets […]<\/p>","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[70,68],"tags":[],"post_folder":[73,13],"class_list":["post-55012","post","type-post","status-publish","format-standard","hentry","category-en","category-market-news"],"yoast_head":"\nEarly-year softness, fundamentals intact - European Maritime Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/maritimefinance.eu\/da\/early-year-softness-fundamentals-intact\/\" \/>\n<meta property=\"og:locale\" content=\"da_DK\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Early-year softness, fundamentals intact - European Maritime Finance\" \/>\n<meta property=\"og:description\" content=\"Markets remain firm over New Year as focus turns towards Venezuela Tankers:\u00a0Rates softened\u00a0across the board\u00a0Tanker markets softened further this week, with the\u00a0ClarkSea\u00a0Index easing for a fifth consecutive week to $28,090 per day. 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