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Latest Market news

Trump pushes for Ukraine peace talks 

The impact of a potential truce will vary across different tanker segments This week, US president Donald Trump called for immediate Ukraine peace negotiations after a “highly productive” 90-minute call with Vladimir Putin. Ukraine’s president Zelenskyy also spoke with Trump, expressing hope for “lasting peace”.  Scrapyard-bound Russian fleet may boost market after detente While crude tanker markets may see limited direct impact, shifting trade flows could affect vessel demand. The largest crude tankers may benefit from a potential peace agreement,

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US escalates sanctions to cut off Iran oil exports

Positive tanker market impact set to continue As part of its maximum pressure strategy on Iran, the US has issued new sanctions this week aimed at blocking Iranian oil sales. The objective is to reduce the country’s oil exports to zero, preventing the government from funding its nuclear program. The sanctions specifically target individuals and tankers involved in shipping millions of barrels of Iranian crude to China annually. According to VLCC charterer Hunter Group, these measures could positively impact the

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A milestone for clean shipping

Groundbreaking time-charter agreed for ammonia-fueled carrier Yara Clean Ammonia and Nippon Yusen Kabushiki Kaisha (NYK) have signed the world’s first time-charter agreement for an ammonia-fueled medium gas carrier. The vessel, set for delivery in November 2026, marks a key step in reducing emissions in the shipping sector. Major step towards sustainable supply chain This partnership, which began in 2021, aims to develop practical applications for ammonia-powered vessels and create a more sustainable supply chain as global demand for clean ammonia

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VLGC market set to remain soft throughout February

Q2 rebound anticipated as arbitrage improves The VLGC market remains soft despite increased activity in the West. While a few more February deals are expected before the market transitions to March fixing, the position list for the remainder of February remains well-filled. According to Clarksons, earnings on the standard Houston-to-Chiba (Japan) route declined by 12% week-on-week, settling at approximately $30,000 daily. However, Fearnleys expects a rebound in Q2, projecting earnings to reach $40,000 daily, driven by a more favourable arbitrage,

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Limited tonnage fuels tanker market momentum

Increased sanctions boosting overall earnings The tanker market continues to show positive momentum, with average crude tanker earnings rising by 16% week-on-week to over $40,000 per day. This increase is primarily driven by mainstream tankers benefiting from intensified sanctions activity and limited tonnage availability in Western regions. Suezmax earnings on the rise throughout According to Clarksons, earnings in the Suezmax segment have strengthened across all routes, with rates on the Mediterranean-to-China route via the Suez Canal surging by 48% week-on-week.

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Trump restores maximum pressure on Iran

China complying with US sanction on Iranian crude exports According to the White House, the US has reintroduced its “maximum pressure” strategy on Iran, aiming to reduce crude oil exports to zero. With China, the largest importer of Iranian crude, now complying with OFAC sanctions, Iranian exports – currently at 1.5mbpd – are expected to decline significantly. Tanker demand set for significant rise As China probably will replace Iranian barrels with oil from the Middle East Gulf (MEG) or the

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Crude Tanker and VLGC market gathering pace

Suezmax rates rise by 25% in strong week overall The crude tanker market had a strong week, with VLCC rates on the MEG-China route rising 10.6% to around $50,000/day, according to Fearnleys. The Suezmax segment also saw a significant 25% week-on-week increase, reaching $40,000/day, reflecting solid market momentum. Upside predicted for 2nd half of 2025 as US export increases In the VLGC market, rates may gain traction as we move past winter, with stronger exports driven by improved arbitrage. However,

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US tariffs and their market impact

As trade war ramps up, the tanker market may well benefit Earlier this week, the US Administration announced 25% tariffs on Mexican and Canadian goods (10% on Canadian energy) and 10% on Chinese imports, set to take effect at the beginning of March (delayed by one month from the first announcement). While these tariffs could weaken the global economy if a trade war emerges, the tanker market stands to benefit from shifting crude trade flows. China, in response, has already

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2025 starts off quietly after recent massive years

Positivism returns after recent market stabilization The PCTC market has started 2025 on a quieter note, following record-breaking years. Time charter rates have softened, driven by slower growth in Chinese car exports and the anticipation of several new vessel deliveries in 2025. After this rebalancing, the outlook now remains positive for the months ahead. In December, new car registrations in the EU increased by 5% year-on-year, with Spain leading at an impressive 29% growth. While Germany and Italy saw modest

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Ammonia segment gets 2025 off to flying start

Ammonia-ready vessels making up over 10% of global orderbook The ammonia segment has seen notable progress this January, reinforcing its potential as a key marine fuel. Ammonia’s ability to enable zero-emission shipping when produced from green hydrogen has made it a popular choice among shipowners. Currently, 10.4% of the global orderbook is ammonia-ready according to Green Technology Tracker, showing strong industry interest in this fuel. WinGD ammonia engine set for summer unveiling This month, Swiss engine manufacturer WinGD announced that

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