The PCTC market is showing signs of stability, with EU new car registrations up 1.6% year-on-year in May –the second month of growth after a slow start to the year. Battery electric vehicles reached a 15.4% market share, supporting long-term trade potential.

Strong recent trade ahead of tariff changes
Seaborne volumes were stronger than expected in April and May, partly due to frontloading ahead of US tariff changes. Some of this effect may still carry into June, with volumes likely to normalize from July.

While fleet growth remains a challenge – set to rise 12% in 2025 – recent demand resilience and strong long-haul trades provide a more balanced near-term outlook.