Tankers & Gas
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How Hormuz crisis effect on product tankers diverged from crude
Product tanker owners are posting all-time-high results for 2Q26, but that is backward-looking. Current spot rates are less impressive, and future prospects hinge on how geopolitical events unfold
MEG crude exports hang in the balance despite June recovery amid ceasefire uncertainty
A fragile ceasefire is likely to keep exports below pre-conflict levels as shipping continues to contend with the heightened risk in the region
Tanker values have soared in 2026 but signs of stabilisation are emerging
Strong owner balance sheets and prolonged healthy earnings have reduced the pressure to sell, allowing owners of modern tonnage to demand increasingly higher prices
West African crude exports remain below pre-crisis levels despite Hormuz disruption
Higher costs have been a key deterrent for buyers despite global supply constraints with the Middle East Gulf conflict showing no signs of slowing
Finland orders retrial in Eagle S cable-cutting case
But accused seafarers have left country and shadow fleet tanker now scrapped
Marmara tanker collision master charged with negligence
A search for 10 missing crew members on board the cargoship continues more than 48 hours after the collision occurred
European diesel shortages to support US-Europe clean tanker freight rates
Rising arbitrage windows leave room for freight rates to grow as Europe contends with diesel shortages
Cosco rejects US espionage allegations as ‘totally unfounded’
China’s largest shipping company pushes back against US spy allegations as tensions simmer ahead of Trump-Xi summit
Sanctioned LPG tanker exits Iran shadow fleet via Alang scrapping yard
A US-sanctioned VLGC that spent more than three years hauling Iranian LPG has been scrapped in India, marking a rare exit from the shadow fleet and signalling growing pressure on ageing sanctioned tonnage as Iran’s LPG exports decline
Shipping is firing on all cylinders as rate strength spreads
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
Panama Canal cuts transit capacity as El Niño threatens fresh disruption to global trade
The Panama Canal will reduce daily transits from September as an intensifying El Niño drives rainfall sharply below average, raising the prospect of longer delays, higher costs and renewed disruption to global trade flows
Shipping stocks at decade highs amid geopolitical chaos and strong demand
The 2000s was the ‘golden era’ for shipping stocks, with multiple segments all spiking simultaneously. Recent trading behaviour of shipping equities is starting to look similar to that earlier peak two decades ago
Hormuz-related force majeure declarations could create unprecedented chaos
Disputes could arise on the back of Hormuz force majeures in the long term as buyers challenge sellers’ abilities, or lack thereof, to perform their contractual obligations
Iran-Oman shipping deal offers first diplomatic opening on Hormuz, but strait remains ‘closed’
Iran and Oman have agreed on a temporary Hormuz shipping framework, but Tehran says the strait will remain effectively closed pending wider US-Iran diplomatic progress
EU sanctions push collides with Brussels power struggle and Greek shipping anger
EU foreign policy chief Kaja Kallas’ plans for a sweeping new round of Russia sanctions face growing resistance from member states, as a Brussels power struggle and mounting Greek anger over Ukrainian attacks on merchant shipping threaten to derail consensus
Marine insurers still providing charterers’ war risk cover for Saudi-linked tonnage
Saudi-linked vessels can still secure charterers’ liability cover despite new International Group exclusions, but at a higher cost, while Riyadh explores a state-backed marine insurance scheme to shield shipping from escalating Red Sea war risks
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