This week’s market can be summed up in one word: volatility. Across the board – and particularly in the gas and tanker segments – earnings have fluctuated sharply, largely driven by rising tensions between Israel and Iran in the Middle East Gulf (MEG).

So far, the tanker market has benefitted from the disruption. The conflict has led to longer sailing distances and operational inefficiencies, supporting higher earnings. Crude tankers are performing especially well, with VLCCs leading the way. For a deeper look at how geopolitical developments are impacting shipping, read more here.

Gas rates surge to over $70,000
The gas market has also seen a strong upswing, particularly on the Arabian Gulf to East Asia route, where rates have surged above USD 70,000 per day. That said, further volatility is expected in the near term as market conditions evolve.

Meanwhile, the PCTC segment has shown some encouraging signs, with growth in new car registrations offering a more optimistic outlook. Read more here.