Shipping & Freight

Traffic through the Strait of Hormuz came to a near standstill on Thursday after US strikes on Iran for a second day strained a fragile truce. Observable movements largely followed an Iran-approved northern route while the US-supported Omani corridor showed no traffic per ship-tracking data. The escalation raises doubts about normalizing flows through the key energy conduit that handles about a fifth of global oil and LNG supplies. Read →

At least five ballast LNG tankers including GasLog Shanghai and QatarEnergy-linked carriers entered the Strait of Hormuz in recent days per Kpler and LSEG data. Twenty-two Japan-linked vessels including six large crude tankers exited between July 7-9, leaving only four in the Gulf. Renewed fighting followed Iranian attacks on commercial vessels and US retaliatory strikes earlier this week. Read →

Maersk will resume its Middle East-to-US East Coast service through the Suez Canal, improving westbound transits by an average of seven days and eastbound up to 14 days faster. The move follows its earlier resumption of some sailings under the Gemini network with Hapag-Lloyd and signals gradual Red Sea route restoration after Houthi attacks forced Cape rerouting. Read →

Qatari LNG tankers Al Ghariya, Duhail and Al Ruwais plus Indian VLCC Lila Vadinar reversed course near the Strait of Hormuz on Tuesday and Wednesday. Attacks on a Qatari LNG carrier and Saudi crude tanker prompted maritime authorities to raise the threat level to severe. Three VLCCs carrying Emirati, Qatari and Saudi crude exited the strait, while a queue of ballast LNG vessels built up off Ras Laffan. Read →

The Baltic Exchange dry bulk index fell 4 points or 0.14% to 2,871 on July 8, snapping a six-day winning streak. Larger-vessel segments, especially Capesize, drove the decline. The index remains up 1.88% month-over-month and more than 100% year-over-year. Read →

The Baltic Dry Index climbed 78 points to 2,875 on July 7, extending gains. Capesize rates led the advance amid stronger iron ore and coal fixtures in the Atlantic and Pacific. The move lifts the benchmark to its highest level since early June. Read →

Super Typhoon Bavi is tracking toward Taiwan and eastern China, with landfall expected around July 10. Strong winds and heavy rain risk closing or slowing operations at major ports including Ningbo and Shanghai, disrupting dry bulk and container flows. Commodity discharges for iron ore, coal and other cargoes face delays while vessel supply tightens across the Pacific. Read →

Maersk and Hapag-Lloyd will restart some Asia-Europe sailings through the Suez Canal under their Gemini network after security assessments in the Red Sea. The move shortens transit times by four weeks on the AE15 service. Shares in both companies fell on expectations of downward pressure on container freight rates from restored capacity. Read →

The Baltic Dry Index climbed 50 points to 2,797 points on July 6. The index tracks daily spot rates for dry-bulk carriers moving commodities including iron ore, coal and grain. The gain marked the fourth consecutive session of advances. Read →

Six oil and gas tankers navigated close to Oman’s coast in the Strait of Hormuz on Sunday following Friday-Saturday U-turns by at least eight vessels. Only one openly signaled inbound transit along the route on Saturday versus 13 on Friday, per Kpler data, with many using dark transits. Western navies maintain substantial threat risk and note mining in the center, complicating normalization of energy flows. Read →

UAE producers relied on dark transits without AIS signals, often at night, and ship-to-ship transfers outside the strait to sustain crude exports during the conflict. Flows approached pre-war levels by the interim US-Iran peace deal. Tactics mirrored those of sanctioned fleets, enabling continued loadings amid Iranian threats and permissions requirements. Read →

VLCC owners maintain elevated rates despite softening volumes unlikely to improve for the remaining 60-day US-Iran MOU period. MEG production shows modest recovery but far below pre-war levels, with transit through Hormuz remaining precarious. Paper for TD3C July hovers near WS 250 while Atlantic activity stays quiet outside Brazilian stems. Read →

Drewry World Container Index rose 9% to $4,530 per 40ft container. Shanghai-New York rates climbed 11% to $7,902 and Shanghai-Los Angeles 10% to $6,349; Shanghai-Genoa up 10% to $6,360 and Shanghai-Rotterdam 7% to $4,682. Blank sailings and GRIs/PSS announcements signal further rises as peak season demand tightens east-west capacity. Read →

Baltic Dry Index rose 3.43% to 2,650 points. Capesize jumped 6.2% to 3,291 on stronger Australia-Brazil iron ore cargoes despite Fortescue delivery curbs in China; Panamax gained 0.8% to 2,195 and Supramax edged up 0.1% to 1,675. Read →

Drewry WCI rose 9% week-over-week to $4,530/FEU driven by Transpacific and Asia-Europe strengthening. Carriers deploy GRIs and PSS with eight blank sailings slated on Transpacific; one on Asia-Europe amid disciplined capacity and robust peak demand. Read →

The Baltic Exchange dry bulk index climbed 61 points to 2,562 on July 1. Capesize rates surged 4.1% to 3,692 points while panamax rose 1.1% to 2,177; supramax gained 0.4%. Gains across segments reflect stronger iron ore and coal fixtures supporting commodity shipping. Read →

Saudi Aramco cut July propane OSP by $180/ton to $580 and butane by $220/ton to $600. Sonatrach lowered propane $57/ton to $518 and butane $10/ton to $600. Cuts reflect ample global LPG supply pressuring gas carrier rates. Read →

Crude tanker crossings through Hormuz rose to 57 in the week to June 28 from a wartime average of 15. TD3C spot rates from Middle East to China fell nearly 40% to $313,000/day but remain far above the long-run average below $100,000. Data shows partial recovery in VLCC/Suezmax flows after US-Iran ceasefire. Read →

Empty VLCCs and smaller tankers are re-entering the Gulf amid recovering transits through the Strait of Hormuz after the Iran conflict. VLCC Middle East-China spot rates have dropped to around $287,000/day from over $500,000 pre-peace accord, while Aframax and product tanker rates outside the region have risen. The moves signal early fleet repositioning ahead of resumed Gulf oil exports despite lingering risks and backlogs. Read →

CMB.TECH agreed to sell the 2023-built Suezmax vessels Brest and Brugge, booking a $100.5 million capital gain to be realized in Q3 2026. The sales capitalize on historically strong Suezmax asset values at the peak of the tanker cycle. Delivery to the buyer is scheduled for Q3. Read →

The Baltic Dry Index fell 34 points or 1.4% to 2,490 on Monday, its lowest since mid-April after six straight sessions of declines. Capesize rates slumped 2.8% while supramax also eased, pressuring earnings for iron ore and coal carriers as demand softens. Read →

Drewry's World Container Index rose 5% to $4,166 per 40ft container, its highest since September 2024. Shanghai-Los Angeles rates climbed 12% to $5,750 and Shanghai-New York rose 6% to $7,149. Stronger spot demand on Transpacific lanes drove the weekly gain. Read →

Vessel transits through the Strait of Hormuz fell Friday after Iran fired on a Taiwanese-operated ship near Oman. Tanker sailings dropped to 13 from 24 the prior day, though some VLCCs still entered to load crude. The UN paused its ship-evacuation scheme following the attack. Read →

Asia-US container spot rates kept climbing while tanker earnings eased as more vessels transited the Strait of Hormuz. Increased Hormuz sailings after the ceasefire pause supported crude movements but pressured dirty-tanker rates. The shift reflects partial normalization of Gulf traffic. Read →

Baltic Dry Index declined 43 points Thursday to 2,591, its lowest since April 17. Capesize index fell 3.1% to 3,827 points while supramax slipped 0.9% to 1,678; panamax rose 1.2% to 2,096 points. The move marks the fourth consecutive daily decline in the dry-bulk benchmark. Read →

Baltic Dry Index fell 1.63% to 2,591 points on June 25. Capesize slumped 3.1% and supramax 0.9% while panamax gained 1.2%. The index is down 16% over the past month but remains 67% higher year-over-year. Read →

VLCC spot rates out of the Middle East Gulf have more than doubled since the Israel-Iran conflict began on June 13, swinging from year-to-date lows to 16-month highs by June 23. Transits through the Strait of Hormuz remain within normal ranges, with weekly volumes 4% above the 2024 average. Rising war risk premiums and potential tonne-mile demand shifts from Asia to Atlantic Basin sources sustain upward pressure on global tanker rates. Read →

VLCC average TCE rates have climbed from $27,670 per day in early June to over $56,480 per day following escalated tensions and Iran's parliament declaration on Hormuz. LR1 and LR2 rates eastbound have risen 66-85% since the conflict onset. Asymmetric disruption risks keep premiums elevated despite low likelihood of full strait closure. Read →

Israeli ports processed 24.3 million tonnes of cargo in the first five months of 2026. The volume figure reflects ongoing operations amid regional shipping route shifts. It provides a benchmark for Red Sea and Eastern Mediterranean trade resilience. Read →

Baltic Exchange West Africa-China VLCC TCE index hit $188,957 per day Monday, up 92% week-on-week and highest since March 10. US Gulf-China VLCC index rose to $154,987 per day, up 46% w/w. Tonnage is shifting toward the Middle East Gulf on reopening expectations while traffic remains a trickle, creating inefficiencies that lift rates globally. Read →

Daily tanker charter rates through the Strait of Hormuz jumped to $190,500 from $106,500 a week earlier. VLCC earnings for Gulf cargoes via Hormuz reached a record near $470,000 per day, up over $50,000 week-on-week. About 100 loaded tankers remain stranded in the Gulf as Middle East producers increase exports and traffic stays well below pre-crisis averages. Read →

The Baltic Exchange dry bulk index slipped 17 points or 0.6% to 2,667 Tuesday. Capesize fell 28 points or 0.7% to 4,046, its lowest since June 18; Panamax eased 0.7% to 2,045 and Supramax 0.6% to 1,705 amid broad weakness across segments. Read →

Two crude tankers (2 million barrels) sailed through the Strait of Hormuz on Monday and two supertankers entered the Gulf (one bound for Basra, Iraq), per Kpler/LSEG data. This follows weaker Sunday flows amid crossing concerns and Iran's closure claim. Crossings are still far below pre-war averages, but the uptick indicates easing disruption risks for oil and tanker markets. Read →

Four Qatari LNG tankers entered the Strait of Hormuz via the Iranian route on Monday, the first such moves since the U.S.-Israeli war with Iran began. Ship traffic fell to five vessels on Sunday from 26 the prior day, though three VLCCs exited carrying Saudi crude. Over 25 million barrels of Iranian oil have passed since Monday per state media, while U.S. Central Command reported 55 merchant ships transited Saturday with 17 million barrels of oil. Read →

Precious Shipping Pcl, whose vessel was hit in March, said conflicting U.S.-Iran signals and regional reports keep security risks high despite traffic resuming. Managing Director Khalid Hashim cited personnel feedback indicating elevated dangers at the chokepoint. Read →

Drewry's World Container Index rose 12% to $3,969 per 40ft container, its highest in 18 months, led by Shanghai-New York up 15% to $6,769 and Shanghai-Rotterdam up 15% to $4,342. Carriers added surcharges and blank sailings amid frontloading ahead of July US tariffs and bunker adjustments. The surge reflects strong peak-season demand rather than broader economic growth. Read →

Baltic Exchange MEG-China TD3C VLCC index stood at $412,888 per day, hypothetical amid the strait closure, versus $100,000 per day in the Atlantic based on real fixtures. A US-Iran deal easing Hormuz restrictions could flood the market with prompt cargoes initially, then support earnings as ballasters shift and tonnage tightens in the Middle East. Forward curves show MEG rates staying at a premium to Atlantic even post-reopening. Read →

Major shipowners have started moving vessels out of the Middle East Gulf following the US-Iran Memorandum of Understanding aimed at reducing tensions and lifting shipping restrictions in Hormuz. Around 550 merchant ships above 10,000 dwt, including 160 tankers, remain positioned to exit but await greater clarity before full-scale transits resume. The moves signal the first concrete steps toward normalization after months of effective closure. Read →

Brent crude fell nearly 1% to $78.24 per barrel, extending prior declines and hitting the lowest level since early March. The drop follows a US-Iran framework deal expected to end near-total closure of the Strait of Hormuz and lift the US blockade on Iranian ports. Shippers remain cautious with traffic still minimal and full normalization likely weeks or months away due to mine clearance and insurance issues. Read →

The Baltic Dry Index dropped 0.64% to 2,653 points, its lowest since April 21. Capesize rates fell about 0.9% to 3,877 points and Panamax declined 43 points to 2,223, while Supramax rose 1.2% to 1,705. The decline reflects softer rates across larger dry-bulk segments amid moderating demand. Read →

Spot container rates continue climbing and approach levels seen during the Red Sea disruptions. Geopolitical factors including Hormuz tensions support the gains alongside seasonal demand. Carriers pass on higher bunker costs from rerouting and fuel price spikes. Read →

The Baltic Exchange dry bulk freight index fell 0.3% to 2,720 points on Monday, its lowest level since April 30. Capesize rates dropped 1.3% to 4,053 while Panamax rose 0.4% to 2,291 and Supramax gained 1.3% to 1,664. The move reflects softening demand for larger vessels carrying iron ore and coal amid recent market weakness. Read →

The Baltic Dry Index compiled by the London-based Baltic Exchange declined 9 points to 2,720 on June 15. It tracks spot rates for dry bulk commodities including coal, grain and iron ore based on global agent surveys. The daily update provides the latest benchmark for commodity shipping costs. Read →

The Suez Canal Authority will increase transit surcharges by about 12 percentage points on most vessel types effective July 15. Crude oil tankers face the steepest hikes, with laden vessels paying 37% extra on base rates. The changes apply amid efforts to boost canal traffic and revenues. Read →

Global equities advanced on the US-Iran framework deal while tanker and container operators remained measured ahead of the formal signing. Spot tanker rates had stabilized at elevated levels amid the prolonged Hormuz disruption; the reopening signals potential compression in VLCC and Suezmax earnings once normal transits resume. Container spot rates continue climbing toward prior Red Sea crisis peaks despite the shifting geopolitics. Read →