IT’S been an exciting start to the year.

That somewhat of an understatement comes from Lloyd’s List senior maritime reporter Greg Miller, who in this week’s episode of the Lloyd’s List Podcast tries to make sense of the crazy start to 2026 and how geopolitical events may affect tanker markets.

Trump’s intervention in Venezuela has changed the game completely, but it follows historically high crude tanker rates in 2025, reaching the six-figure mark on numerous occasions, before trending downwards towards the end of the year.

Greg talks us through the market outlook for both crude and product tankers in the wake of such instability, offering a big‑picture view of the year ahead for one of shipping’s most exciting sectors.