New restrictions in Shandong aim to limit sanctioned oil trades and raise environmental standards From 1 November, terminal operators in eastern China’s Huangdao Port will enforce stricter controls on aging and high-risk vessels, including those linked to sanctioned oil shipments. The policy bans tankers over 31 years old, ships using fake IMO numbers, and vessels with expired safety or pollution certificates. Analysts view the move as a precautionary response to growing US sanctions pressure and environmental concerns, though the overall

Several factors conspire to support upward momentum Tanker values are expected to maintain upward momentum through the coming year, supported by steady demand, geopolitical disruptions, and limited fleet growth. The combination of sanctions, longer voyage distances, and constrained newbuilding capacity continues to underpin firm earnings and asset prices across the crude segments. According to Veson Nautical, the outlook remains positive for Suezmax and Aframax vessels in particular. They forecast both segments to extend gains through the first half of 2026,

Floating storage is emerging as a key outlet for surplus crude  Global oil markets are entering a period of renewed surplus as OPEC+ producers gradually lift output and key exporters ramp up seaborne flows. According to the US Energy Information Administration (EIA), global oil supply is projected to outpace demand into 2026, putting downward pressure on prices while supporting continued strong utilization of crude and product tankers. Recent weeks have seen record levels of oil on the water, with Bloomberg

US government shutdown yet to effect shipping operations Tankers: Underlying momentum robust despite quiet weekThe crude tanker market continued to show healthy underlying momentum despite a softening in spot rates. Overall fleet utilization remains strong, supported by steady long-haul crude flows and firm OPEC production levels. Suezmax rates saw a mild adjustment, with the West Africa–UKC route, while Mediterranean and Black Sea activity remained broadly stable. Aframaxes were mixed, as gains in the North Sea and cross-Med trades offset softer

Militia claims new strike and blacklists oil majors The Houthis have escalated their campaign in the Red Sea, claiming responsibility for a strike on a vessel this Monday and blacklisting ExxonMobil, Chevron and other US oil majors. The move was presented as retaliation for recent US sanctions, with warnings that ships linked to these companies could be targeted across the Red Sea, Bab al-Mandab and Gulf of Aden. Tankers face rising safety risks in key trade lanes as rerouting pressure

Kirkuk-Ceyhan to restart while OPEC+ flows boost demand Suezmaxes and Aframaxes are emerging as the key beneficiaries of recent shifts in crude flows, with multiple developments reinforcing demand across both the Atlantic and Mediterranean markets. In the South Atlantic, seasonal restrictions are preventing VLCCs from loading Guyanese crude until January, redirecting volumes to Suezmaxes. Analysts noted that last year this effectively doubled tonne-mile demand during the same period, and the effect may be stronger this year given higher production. At

Suezmax and Aframax segments supported by supply boosts Tankers The midsize tanker market saw renewed support this week, with continued steady earnings while VLCC earnings eased after last week’s surge. In the South Atlantic, seasonal restrictions – preventing VLCCs from loading Guyanese crude until January – are shifting volumes onto Suezmaxes. Analysts noted that last year this effectively doubled tonne-mile demand in the trade, and the impact could be greater now with higher export volumes. At the same time, firm Atlantic

Canal opens “NetZero Slot”, prioritizing future-fuel vessels The Panama Canal will launch a weekly “NetZero Slot” this November, reserving priority transit for dual-fuel vessels capable of operating on low-carbon fuels such as ammonia, methanol, bio-LNG, and bio-LPG. While vessels will not be required to use these fuels immediately, the Canal will recognise owners that have invested in future-ready capacity. Commitment to sustainabilityAccording to the Deputy Administrator, the initiative is “an unequivocal signal of our commitment to sustainability and the competitiveness

Red Sea hostility, an increasing cause of disruption On September 20, a vessel was attacked near Aden in an incident attributed to Houthi rebels. While traffic through the Red Sea and Gulf of Aden continues, the episode highlights the ongoing security risks for vessels transiting this key route. Such instability raises the prospect of higher insurance premiums, operational delays, and in some cases rerouting via the Cape of Good Hope. These outcomes extend voyage times and add to tonne-mile demand,

Lowered rates a potential boost to trade demand The US Federal Reserve reduced interest rates by 0.25%, last week, with the possibility of further cuts before year-end. Lower rates support asset values, reduce financing costs, and improve access to capital for owners and operators. For shipping, this creates a more favourable financing environment across all vessel classes. Putting risks aside, cheaper borrowing strengthens balance sheets, encourages fleet renewal, and underpins long-term investment strategies while also supporting broader trade demand. On