Shipping is firing on all cylinders as rate strength spreads
- Global container freight indexes and transpacific indexes continue to rise, hitting fresh multiyear highs this week
- VLCC rates continue to spike, reaching their highest point on Friday since the beginning of the Hormuz crisis
- VLGC spot rates are double where they were a year ago; in dry bulk, YTD averages for capesizes and panamaxes are up over 60% vs the same period last year
- Rising restrictions at the Panama Canal should support both VLGC and panamax bulker spot rates due to higher tonne-miles
The traditional shipping business formula — more disruptions equal higher profits — is paying off in epic fashion in 2026. Bad news for the Panama Canal should add to the good news for rates
