EMF’s 7th Aframax tanker delivered this week European Maritime Finance is proud to announce the successful delivery of our seventh Aframax, Oslo Star, on March 6th. This marks a significant milestone, completing the construction process, and we are thrilled to see her embark on new voyages. This vessel was built at Daehan Shipbuilding in South Korea, a globally recognized leader in shipbuilding and innovation. EMF has a long-standing partnership with the yard, having placed multiple orders over the years, reflecting

Tariffs and political upheaval remain a concern for times ahead The PCTC (Pure Car, Truck Carrier) market continues to show positive momentum, with vehicle production and exports increasing across key regions. In Japan, both production and exports grew in January, driven by strong demand, especially from North America. China also saw a rise in production, supported by solid domestic sales and steady export volumes. European exports from Japan declined, however, reflecting shifting trade patterns. Meanwhile, geopolitical uncertainty remains, as President

Houston-Chiba earnings rise by 8% as March forecast remains moderate The VLGC (Very Large Gas Carrier) market saw a surge in chartering activity later in the week as several ships found employment. However, there are still uncommitted VLGCs for March, with no clear cargoes available. Despite this, market sentiment improved, with spot earnings on the benchmark trade, the Houston-Chiba route, rising 8% week-on-week, according to Clarksons. EMF investments handed huge boost by ammonia test breakthroughIn a recent milestone for ammonia-fueled

Output set to rise in April, boosting tanker demand OPEC+ has been limiting oil production since 2022 to stabilize prices, cutting output by 2.2 million barrels per day (bpd). The group has confirmed a 138,000 bpd production increase in April, its first step toward gradually unwinding these cuts. This decision follows pressure from President Trump to lower oil prices amid geopolitical uncertainty. The above relatively small increase corresponds to an additional demand of approximately 5 Suezmax tankers, highlighting the great

Market holds firm during week of global volatility The tanker market has remained steady this week, with earnings staying strong despite ongoing geopolitical uncertainty. Suezmax and scrubber-fitted VLCCs are currently trading at $40,000 per day, according to Fearnleys, reflecting sustained demand and limited fleet availability. Looking ahead, market fundamentals suggest rates could rise further. The Atlantic peak export season is approaching, and China’s crude inventories are low, increasing the likelihood that Chinese refiners will seek crude from non-sanctioned suppliers. Fearnleys

Car sales forecast to rise by 3% while US tariffs pose challenge The PCTC market has seen little movement in early 2025, aside from major listed companies reporting quarterly results in line with expectations. GlobalData forecasts global light vehicle sales to grow by over 3% year-on-year, reaching 91.6 million units in 2025. While potential US trade tariffs pose a risk to international trade and economic growth, lower interest rates, new car model launches, and competitive market dynamics are expected to

VLGC upside may have to wait until US export increase in Q3/4 This month, the VLGC market remained stable, hovering around $30,000 per day amid limited arbitrage opportunities. The soft market so far this year has been driven by reduced activity, but rates may rebound post-winter as arbitrage improves. Fearnley Securities sees upside potential in the second half of ’25, as US export capacity expands – potentially driving rates higher. Looking further ahead, 2026 is expected to be strong, with

Earnings thrive in volatile beginning to 2025 This month, the tanker market experienced significant volatility, driven by tariff announcements, new sanctions on tankers transporting Iranian and Russian crude, and broader geopolitical disruptions. These events have pushed crude tanker earnings – led by the VLCC segment – to more than $40,000 per day, up 50% since the start of the year. Uncertain times benefit tanker market – up to a pointWhile US tariffs and sanctions under President Trump create geopolitical uncertainty,

Government aims to convert 10% of coal power to ammonia by ‘27 China’s renewable ammonia co-firing strategy is set to drive significant demand for ammonia transport, benefiting the Very Large Ammonia Carrier (VLAC) market. As part of its 2024-2027 economic action plan, China aims to retrofit coal power plants to co-fire at least 10% ammonia by 2027, requiring an estimated 200 million tons per year of ammonia fuel. A potential game-changer for VLAC marketsTo support this transition, the Chinese government

Rates boost is expected as further vessels are blacklisted The US has blacklisted 13 more tankers, including five VLCCs, while the EU has added 65 tankers to its list, further restricting sanctioned crude exports. These sanctions on shadow fleet tankers are set to increase demand for mainstream vessels, according to Fearnley Securities. Pronounced decline for Iranian exportsWith over 10% of VLCCs and Suezmaxes now blacklisted, and nearly 20% of the Aframax/LR2 fleet affected, crude and product exports from Iran and