Annual Outlook 2026
The disruptive forces that have allowed shipping markets to defy economic gravity thus far are not going to last forever
Shipping in 2026 and beyond: the future isn’t what it used to be
Despite a potentially worrying orderbook and continuing disruption, for now at least, the pathologically optimistic shipping sector is still feeling pretty confident about prospects for 2026 and beyond
Containers: Liner industry enters a new era of turbulence
Short-term disruption will continue to shape the market through 2026, but the industry is moving steadily towards a structural downturn. A surge of new vessels from 2027 will outpace demand, despite rising demolition. Analysts expect this to trigger a new phase of carrier repositioning and alliance realignment
Crude and product tankers: Can strength carry through into 2026?
Tanker rates rose over the course of 2025, in both the crude and products segments. The start of 2026 should be strong, given positive momentum, but geopolitical variables make it hard — if not impossible — to predict rates for the rest of the year
Long-anticipated shadow LPG crackdown has arrived: will it matter?
US pressure on Iran’s LPG shadow fleet increased in 2025 — especially in October and November — and will likely spur an injection of new tonnage in the new year. Whether this pressure will dramatically impact exports, however, remains to be seen
Ship finance: Banner year for revolvers, Oslo bonds and take-private deals
There’s no shortage of money available for shipowners who want to spend it. The question for 2026 is: Will the market give shipowners a reason to leverage up again and use the bounty of capital they’re being offered?
LPG: The good, the bad and the geopolitics
After a year shaped by US-China trade swings and tightening Iran sanctions, the VLGC sector enters 2026 balancing a swelling orderbook against expanding export capacity and unpredictable geopolitical forces
Shipbuilding: Is China’s dominance nearing its peak?
Outside of Asia, Europe and the US are cautiously attempting to revive their shipbuilding industries, with European yards set to receive a new wave of cruiseship orders in 2026
Marine insurance: Swings and roundabouts for buyers
2026 will probably look like 2025 — but more so
Net-Zero Framework will be weakened, but approved, says industry poll
The Lloyd’s List Outlook Poll shows that geopolitics is still the biggest risk to shipping, while respondents expected a Red Sea return during the second half of 2026
Dry bulk: Reasons to be cheerful, for now
After a better-than-expected 2025, modest demand growth — coupled with a manageable orderbook — is a cause for optimism next year, but questions remain over long-term fundamentals
The shadow fleet — and all its risks — will persist, no matter what happens in 2026
The events of the past four years have exposed systemic weaknesses in the maritime governance order, and there’s no going back from this
Sanctions on Russian gas could cause limited growth in LNG shadow fleet
Sanctions on Russian LNG by Western regulators have been limited so far, mostly because of Europe’s dependence on these imports. Experts think that an upcoming escalation of sanctions targeting Russian gas will not ultimately lead to a loss of market share as tankers have already started to divert to China
LNG: Sector to find firmer floor in 2026, but real recovery still years away
LNG shipping won’t sustainably lift until demand growth — especially from China — catches up with a heavy newbuilding pipeline
Regulation: Net-Zero Framework faces long odds
The IMO’s global carbon regulation is unlikely to be approved, at least as written. But 2026 will see countries start to tackle its underlying challenges in earnest
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