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Recent events in Iran and the Middle East have sent shockwaves through Tanker markets, with conditions rapidly shifting into uncharted territory. The Strait of Hormuz, through which around 20% of global oil exports pass, now sits at the centre of the crisis, with several commercial vessels including VLCCs idling as masters deem approach to the …

The dry bulk market could be facing a shortage of grain stocks over the next few months, which could have a negative impact on demand. In its latest weekly report, shipbroker Intermodal said that “as the situation in the Middle East unfolds, with ongoing hostilities and energy markets dominating the headlines, the ripple effects of …

The dry bulk market entered 2026 with a stronger-than-expected start. January rates came in well above seasonal norms across all vessel classes, a strong early signal for the year ahead. Despite structural headwinds, China’s economic slowdown, a coal trade decline, and lingering trade policy uncertainty, shifting trade patterns appear to be reshaping commodity flows supporting …

The global shipping industry is currently wrestling with a significant escalation of geopolitical tension in the Middle East following the reported de facto closure of the Strait of Hormuz. While the UK Maritime Trade Operations (UKMTO) has clarified that VHF broadcasts indicating a closure are “not legally binding” under international law and the United Nations …

Drewry expects about 25% of the total vessel demand to be for replacement tonnage by 2035. While over 550 LNGCs will be required by 2035, 140 LNGCs will be needed to offset the tonnage lost from accelerated demolitions. We expect 100 steam turbine carriers to be scrapped by 2030. In the wake of increasingly stringent …

Capesize The market experienced a volatile but ultimately firmer week, shaped largely by fluctuations in bunker prices. Early in the week, the market strengthened sharply as Brent crude surged above the $100 threshold, inflating voyage calculations and pushing freight rates higher, particularly on C5. However, this move proved short-lived, with the market correcting on Tuesday …

The tanker market is still experiencing significant uncertainty and shifts of trade routes, as the Hormuz Strait, remains largely closed. In its latest weekly report, shipbroker Gibson said that “the crisis in the Middle East shows no signs of abating. Attacks on oil infrastructure in the region have continued, and multiple vessels have been hit. …

The tanker market has shown a strong rebound during the past month, according to OPEC’s latest monthly report. VLCC spot freight rates showed a strong performance in February, as fleet consolidation and rising tanker demand on long-haul routes tightened availability. On the Middle East-to-East route, spot freight rates rose 65%, m-o-m. Suezmax spot freight rate …

As tensions in the Middle East persist, concerns continue to grow over the risk of prolonged disruption to maritime trade. Attention is increasingly focused on signs of safe passage through the Strait of Hormuz, particularly as the United States continues to challenge vessel transits in the area. Recent data indicate a sharp decline in West-to-East …

Tanker chartering professionals are no strangers to volatility. Rate spikes, laycans slipping, last-minute compliance checks,  that is just the backdrop of a normal week. But the crisis that erupted on February 28, 2026 is a different category of disruption altogether. The effective closure of the Strait of Hormuz – one of the world’s most critical …