Suezmax gains and Western VLGC momentum support a positive outlook into year-end Tankers: Suezmax gains lead another strong week for tankersTanker earnings remain strong as limited fleet growth and longer trade routes sustain positive momentum across crude segments. Suezmax earnings rose 8% week-on-week to $87,300/day. The LR2 segment has strengthened, supported by sustained switching from clean to dirty trades in response to higher crude earnings. OPEC+ has once again agreed to increase oil output in December by 0.14m bpd in

One week following the world leaders’ meeting, what has been concluded? What was agreed upon Port fee suspension: Both sides agreed to suspend new port fees and shipping tariffs for one year, easing cost pressures on the global maritime and logistics sectors. China agreed to pause for one year its export restrictions on rare-earth minerals, a major relief for global tech and automotive supply chains. The United States has cut its so-called “fentanyl-related” tariff on Chinese goods from 20 %

An overview of recent developments and their impacts Since Russia’s invasion of Ukraine in 2022, international sanctions have steadily reshaped global oil trade and tanker activity. The EU’s oil embargo and G7 price-cap framework redirected Russian crude flows away from Europe toward Asia, creating longer-haul voyages and structural changes in vessel utilization that continue to define the market today. Recent sanctions on Russian oil 18 July 2025 – EU 18th sanctions packageThe EU expanded its restrictions by blacklisting more than

OPEC+ hikes production in December, LPG segment gains strength following US-China trade truce Tankers: Highest earning week for the crude tanker market in the past 5 yearsThe tanker market experienced its strongest week since April 2020, following the global shutdown caused by the Covid-19 pandemic. VLCCs had the strongest week within the segment, with earnings surging by 42% week-on-week to $117,500/day. Suezmaxes and Aframaxes also experienced growth this past week, with the tanker segment undergoing 26% growth week-on-week. OPEC+ agreed

US targets Russian oil majors, prompting shifts in trade flows Roughly one-third of the global Aframax fleet has now been blacklisted as the shadow-sanctioned fleet continues to expand, according to new data from Clarksons. Western nations have added nearly 500 oil tankers to their sanctioned vessel lists so far this year, bringing the total to 908 tankers, equivalent to around 16% of the global fleet. Aframaxes account for the highest proportion of sanctioned vessels at 33% of fleet capacity, reflecting

Optimism for the maritime industry following Trump and Xi’s meeting Last week, China and the US reached an initial consensus on several key trade issues following two days of high-level talks in Kuala Lumpur. The discussions were described as “constructive” and covered a broad range of topics, measures targeting China’s maritime, logistics, and shipbuilding sectors, tariff suspensions, agricultural trade, export controls, and cooperation on fentanyl-related law enforcement. US lowers tariffs on China, ‘rare earth roadblock’ resolvedXi and Trumps’ meeting in

Port fees and sanctions loom large; tanker rates still soaring Tanker: Continued strength, positive forward outlookThe tanker market reflects a positive outlook, with strong rates across VLCC, Suezmax and Aframax segments following a slow start to last week. The Aframax market had a very strong week with an overall increase of 13%. Long haul cargoes going east saw the largest progress. Single voyage fixtures for VLCCs have once again surpassed USD 100,000 per day, reflecting sustained strength in the crude

Implementation postponed following resistance from key member states and the US under Trump Last week, the International Maritime Organization (IMO) voted to postpone the adoption of its Net-Zero framework until 2026. The framework was expected to introduce a carbon pricing system rewarding cleaner ships while penalising higher emitters. However, opposition from several member states, including large fossil fuel producers, the Greek Union of Shipowners, and the United States under President Donald Trump, led to the delay. Critics have also argued

New sanctions expected to be positive for the tanker market This week, the United States intensified sanctions on Russia by targeting its two largest oil producers, Rosneft and Lukoil, which account combined for roughly 55% of national output. With previous measures already covering another 20% through Surgutneftegas and Gazprom, close to three quarters of Russian production is now under restriction. The move is expected to disrupt trade flows and increase inefficiencies in global oil transport, particularly between the Atlantic and

Pipeline resumption supports Aframax/Suezmax activity amid political uncertainty in northern Iraq The reopening of Iraq’s Kirkuk-Ceyhan pipeline has returned about 180 kb/d of crude to Mediterranean trade, with exports set to rise to 230 kb/d by early 2026. Recent liftings have mainly involved Aframaxes and Suezmaxes bound for Turkish and Greek refiners, supporting short-haul employment in the Mediterranean. While political and payment disputes between Baghdad, Ankara, and the KRG continue to pose risks, the resumed flows offer incremental support for