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Geopolitical and policy risks have become bigger drivers of our ‘deteriorating’ 2026 outlook for the global shipping sector than underlying industry fundamentals, Fitch Ratings says. These risks include potential tariff-related escalation; other protectionism-driven tensions such as port fees; the possible resumption of Red Sea transits; a potential conflict in Venezuela; and increasing competition for control …

Capesize The market closed the week firmly on a softer footing, with sentiment deteriorating steadily across both basins despite pockets of activity. The BCI 5TC lost significant ground, sliding from $41,571 to end the week at $30,731, reflecting mounting rate pressure as the week progressed. The Pacific offered the only glimpses of resilience, with miners …

The tanker market faced further headwinds during the past month, OPEC said in its latest weekly report. Dirty tanker spot freight rates showed further strength in November, supported by seasonal factors and an uptick in demand for mainstream vessels. VLCC spot freight rates led gains, driven by increased demand on long-haul routes. Spot freight rates …

The Dangote refinery’s expansion to 1.4 mbpd by 2028, doubling its current output, is expected to reshape regional trade dynamics in the Atlantic basin. As European refinery runs decline amid a wave of closures, Dangote’s growing output could redirect diesel flows and position it as one of Europe’s major suppliers. With the reduction in US …

The global economy has proven “resilient” this year, despite concerns about a sharper slowdown in the wake of higher trade barriers and significant policy uncertainty, according to OECD Secretary-General Mathias Cormann, commenting on the latest Economic Outlook report. However, the report reveals a looming drag on global growth, driven primarily by escalating trade friction and …

Greek ship owners have been heavily investing into adding more tanker tonnage throughout 2025. In its latest weekly report, shipbroker Xclusiv said that “the 2025 YTD tanker SnP market remains exceptionally active, shaped by strong freight earnings, long-haul trade patterns and the ongoing effects of sanctions on Russian crude and products. Buyers come from a …

A likely tightening of palm oil supply driven by Indonesia’s higher biodiesel mandate is expected to support continued growth in longhaul soybean oil shipments from the Americas to Asia in 2026, thereby boosting tonne-mile demand for large chemical tankers. However, the ongoing US–India trade negotiations pose a downside risk. If India allows imports of genetically …

“Between January and November 2025, cement shipments, including clinker, have jumped 13% y/y, driven by a 39% y/y increase in shipments to Africa’s Atlantic coast. The region is experiencing high economic growth, fast urbanisation and rapid development in infrastructure, supporting construction activity and boosting the demand for cement,” says Filipe Gouveia, Shipping Analysis Manager at …

Available ships for scrapping have become a rarity, over the past few weeks, with demolition activity being negatively impacted. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships, said that in India, “the market remains highly cautious, as the sharp decline in the dollar over the past two weeks has …

The VLGC market in 2025 remained highly volatile, with occasional rate spikes overshadowed by weak fundamentals. Vessel oversupply and fragile demand, along with factors such as US loading disruptions, fluctuating arbitrage, and tariff uncertainties, weakened TC rates by 22% YoY in 2025. Rates revived in 3Q25 on the back of robust supply and strong Asian …