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Sanctions Week in Charts Ukraine crisis

The week in charts: Bearish vs benign container shipping | Sanctioned tankers exploit Arctic for Russia oil | US-China talks, Panama Canal ‘bottleneck’ on VLGC rates

  • Liner profits have been supported by externalities — Covid, then the Red Sea crisis — for five years. No such driver has emerged (yet) for 2026
  • At least five sanctioned ‘shadow fleet’ tankers used the Arctic route this summer to deliver Russian oil to China
  • US Gulf-Japan VLGC rates at $74,753 per day, up 55% year on year; Middle East Gulf-Japan rates at $71,668 per day, up 62% year on year

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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