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Shipping has again been at the “frontline” of geopolitical events, with a >90% drop in vessels transiting the Strait of Hormuz, attacks on vessels and ports, damage to energy infrastructure and highly volatile charter markets. After a dramatic week, we try to take stock of developments, assess initial impacts on shipping markets (an all-time high …

A sharp decline in tanker transits through the Strait of Hormuz and rising floating storage in the Gulf signal a shift toward risk-managed energy transport rather than normal market operations. Recent AIS data now indicates that commercial tanker traffic has effectively reached a near-standstill, with most vessels remaining anchored in the Gulf while operators assess …

The tanker market, expectedly, is roaring to higher levels, especially for those few braving a crossing of the Hormuz Strait. Still, most are now trapped and the option of floating oil storage is beginning to look more realistic by the day. In its latest weekly report, Poten & Partners said that “the outbreak of hostilities …

Clean LR2 MEG LR2 freight moved dramatically this week. The TC1 75kt MEG/Japan index ultimately went from WS222 to WS446, with the corresponding TCE climbing to $120,000/day on Baltic description round trip. A voyage west saw the TC20 90kt MEG/UK-Continent index also rise to $8.51 million (+$3.7 million). The TC15 80kt Mediterranean/East index went up …

The continued attacks in the Gulf by the US/Israel have increased tensions around the key sea route passage, Strait of Hormuz, which handles around 2.9 mbpd of refined products such as naphtha and diesel. This massive volume accounts for almost 17% of seaborne refined product flows, primarily serving import needs in Northeast Asia, Europe and …

A major oil supply shock in Asia economies is about to occur, amid the war in Iran and the effective closure of the Hormuz Strait. In its latest weekly report, shipbroker Banchero Costa said that “in Jan-Dec 2024, global crude oil loadings declined marginally by -0.2% y-o-y to 2181.2 mln tonnes, excluding all cabotage trade, …

Executive Overview Tensions around the Strait of Hormuz are increasingly spilling into global oil markets, raising concerns about potential disruptions to one of the world’s most critical energy transit routes. As regional tensions evolve, the central question for markets is no longer whether disruptions may occur, but how long they could persist. Major Asian importers …

The chemical tanker sector is currently experiencing a period of acute transformation and persistent volatility with a new year that brought the same uncertainty as 2025: shifting trade flows, a looming oversupply of aging vessels, and a fragmented regulatory landscape. Combined, these are redefining the chemical tanker sector’s rules of engagement for owners and charterers, …

Tanker rates have risen to levels rarely seen as the Hormuz Strait, a key gateway for crude oil exports is effectively shut. In its latest weekly report, shipbroker Xclusiv said that “the crude tanker tape has shifted from strong to structurally tight in a matter of weeks. As of late February, Baltic TCEs are printing …

Further attacks on vessels and maritime infrastructure in the Middle East as the conflict in the region reached its 5th day. At least 9 ships now identified to have been attacked, including the ‘Safeen Prestige’ (IMO number 9593517, feeder containership) and ‘Athe Nova’ (IMO Number 9188116, asphalt and bitumen carrier). Attacks reported at a number …