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The escalation of conflict across the Middle East and the disruption to energy flows through the Strait of Hormuz have introduced a variable into the maritime energy transition that regulatory frameworks were never designed to handle: the possibility that conventional marine fuel becomes unavailable because competing domestic priorities absorb the available supply. This changes the …

Executive Summary The continuing fragility of the security situation in the Middle East has materially disrupted global energy and marine fuel supply chains. As a vital energy corridor, disruption to the Strait of Hormuz has already resulted in vessel congestion, sharp increases in marine fuel prices, and growing concerns among Owners and Charterers regarding the …

The resumption of crude oil flows and ships from the Strait of Hormuz is the catalyst of any future move in the tanker market, as oil supply is currently being restricted. Meanwhile, just as things started looking rosier by Friday afternoon, Saturday proved to be a different case, with IRGC closing the Strait once again, …

Capesize The market delivered a firm performance over the week, building momentum from a cautious but positive start into a broad-based midweek rally, before showing signs of consolidation at elevated levels by Thursday. The BCI 182 5TC gained over $6,000 across the week, underpinned by improving sentiment and tightening fundamentals. The Pacific led the initial …

Geopolitical tensions, market volatility and an approaching influx of newbuild vessels increase attractions of outsourcing management services for a key market constituency, writes Capt. Anurag Mathur, Managing Director, Wallem Commercial Services Geopolitical volatility has multiplied the challenges for ship owners and the surge in vessel supply approaching through late 2026 and running into 2028 presents …

Last month proved to be a record one for the tanker market. In its latest monthly report, OPEC said that in March, trade disruptions and moves to source alternative crude supplies pushed dirty tanker spot freight rates to record levels. On the West Africa-to-East route, VLCC spot freight rates rose 34%, m-o-m. Suezmax spot freight …

The ongoing uncertainty surrounding the Strait of Hormuz is impacting the Panamax dry bulk segment. According to recent media reports, a potential two-week extension to ceasefire discussions is under consideration, although this remains unconfirmed at the official level. In this context, Signal Ocean data show that the number of Panamax vessels in ballast condition within …

Yesterday’s global trade landscape is increasingly being defined by the shadows of war, with the number of active conflicts reaching levels not seen since the end of World War II. While the human toll is the most devastating consequence, analysis from the International Monetary Fund’s latest World Economic Outlook warns that the macroeconomic and trade-related …

Crude tankers carrying oil into India have been in high demand since the start of 2026. In its latest weekly report, shipbroker Banchero Costa said that “after a modest upturn in 2024, when global crude oil loadings increased by +0.8% y-o-y, things picked up further in 2025, with full-year volumes increasing by +2.0% y-o-y. In …

Iron ore markets are poised for stronger exports as Australian and Brazilian shipments recover, though Chinese demand remains weak. Coal prices softened following a ceasefire but remain supported by tight gas supply and potential European demand. Agricultural markets remain volatile, with Hormuz bottlenecks, US drought risks, and robust South American exports shaping the outlook. Aluminium …