News

The US military’s ouster of Venezuelan President Nicolás Maduro could significantly redraw global crude flows, and although the ultimate direction of Venezuelan oil exports remains highly uncertain, any shifts in these flows will materially influence crude tanker demand. Venezuelan crude production has declined sharply from its 2015 levels, largely due to prolonged US sanctions on …

Global seaborne iron ore exports climbed to a near-record 38.50 Mt in the week ending 28 December, as miners expedited quarter-end shipments for reporting purposes. Rio Tinto led the charge, with loadings surging to a three-year high of 7.72 Mt, while Vale’s exports from Brazil also rose to a three-month peak despite heavier seasonal rainfall. …

Another layer of uncertainty has been thrown to the already fluid state of the tanker market, after the latest developments in Venezuela. In its latest weekly report, shipbroker Gibson noted that “if anyone expected 2026 to be less eventful than 2025, the first weekend of the year has swiftly proved them wrong. On January 3rd, …

Capesize The market delivered a mixed but generally softer week, with sentiment gradually weakening despite a brief midweek improvement in Atlantic activity. Following a post-holiday pickup in participation, the Pacific basin remained under consistent pressure, with C5 rates trending lower as miner support proved insufficient to counter growing tonnage availability. Fixtures drifted from around $8.30 …

Amendments to key IMO treaties include reporting lost containers and mandatory training on preventing harassment and bullying at sea. A set of amendments to key IMO treaties and Codes have entered into force on 1 January 2026. They include the following: Preventing and responding to bullying, harassment and sexual assault Amendments to the Seafarers’ Training, …

The tanker market is seeking some forward momentum after the first few days of trading in the new year. In its latest weekly report, shipbroker Fearnley’s said that in the VLCC market, “no” is also a complete sentence and with WS 50 give/take having been repeated MEG/East a few times it seems the owning community …

The global shipping industry is entering 2026 firmly as a shipper-driven market, shaped by a widening supply–demand imbalance and easing freight rates, according to an industry outlook shared by Supal Shah, CEO of Sarjak Container Lines. “While freight rates are expected to normalize sharply from recent highs, the industry is unlikely to return to pre-crisis …

The global coal trade landscape is edging towards a significant recalibration, marked by a decisive shift from years of expansion toward a structural plateau. According to the International Energy Agency’s latest analysis Coal, the industry is facing an imminent “plateau before entering an expected downturn later in the decade”. While 2024 saw international coal trade …

The ship recycling market in India has shown some strength in these early days of the year. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships, said that “the India market came up further this week, with local prices improving on a day-today basis. The rise was mainly driven by …

The VLCC market has just wrapped up one of its most powerful freight environments in years. Earnings surged past $100,000 per day, with momentum staying strong throughout Q3 and Q4. For much of the year, freight rates moved broadly in line with 2024 levels. However, as summer turned into autumn, the market broke away from …