Shipping & Freight

Shipping through the Strait of Hormuz totaled just 33 vessels Monday-Thursday, down from 50 the prior week. Kpler tracking noted minimal daily crossings, including one VLCC with Basrah crude. Markets monitor Iran-Oman negotiations for any partial reopening of the vital energy route. Read →

The Baltic Dry Index rose 3.3% to 2,936 points Tuesday on typhoon-driven demand for Capesize vessels. The gain marked a fourth straight session and the highest level since July 14. Iron ore, coal and grain freight rates firmed amid the weather disruption. Read →

Houthis claimed missile strikes on Saudi oil tankers in the Red Sea off Yanbu and Gulf of Aden. Kpler data showed Strait of Hormuz transits fell to two vessels from eight the prior day, and Bab el-Mandeb commodity crossings dropped to one from 20. The reduced chokepoint flows tighten tanker supply and support elevated VLCC earnings. Read →

Baltic West Africa-China VLCC TCE index climbed to $188,957 per day, up 92% week-on-week to the highest since March 10. US Gulf-China and Oman-China indexes also rose sharply as owners reposition tonnage toward the Middle East on reopening expectations. The stop-start traffic pattern creates fleet inefficiency that lifts spot rates outside the strait. Read →

The Baltic Dry Index rose 127 points or 4.3% to 3,063, its highest since June 3. Capesize index surged 316 points or 6.6% to 5,094 with daily earnings up $2,867 to $42,698, while panamax gained 49 points to 2,236. Iron ore futures provided support amid a looming BHP strike at Port Hedland. Read →

The Baltic Dry Index climbed 3.27% to 2,936 points on August 4. Capesize rates surged 4.7% to a high since June 5, while Panamax rose 2.4%. The gains mark the fourth straight session of advances for the dry bulk benchmark. Read →

The Port of Shanghai handled a record 203,881 TEU on August 1, nearly 9% above its prior June record. Shanghai International Port Group reported the single-day volume exceeded 200,000 TEU for the first time. The achievement follows recovery from a mid-July typhoon impact. Read →

Suezmax rates from Novorossiysk to India rose to $15M per voyage from $10M mid-July; Aframax from Primorsk hit $13M from $8-9M. Ukrainian attacks on Black Sea tankers deter owners, tightening tonnage for August Russian exports to Asia and cutting netbacks by $5/bbl. Read →

Empty Saudi-flagged supertankers diverted in the Gulf of Aden toward southern Africa instead of Bab el-Mandeb after Houthi threats. The reroute adds at least 25 sailing days; Bahri operates the vessels amid widened insurance risk zones. Read →

Kpler data showed 20 vessels through Bab el-Mandeb and six through Hormuz on Monday, little changed from prior day. All Hormuz transits used the Iranian route; Saudi tanker diversions noted amid ambiguous U.S.-Iran talks. Read →

The Baltic Dry Index rose 2.2% to 2,732 on Friday, its highest level since July 27. Capesize rates advanced 3.1% to 4,296, their highest in two weeks, on firmer iron ore and coal cargoes. Panamax gained 2.3% while supramax eased, lifting the July average 9.2%. Read →

Saudi Arabia eyes a Red Sea pipeline expansion up to 2mbd while the UAE advances a second Fujairah line to 3.6mbd. Iraq pursues new westbound lines including to Jordan and Syria. Gibson Shipbrokers note these projects hedge tanker demand if Hormuz stays restricted. Read →

Asia to US West Coast container rates fell to $5,700-$6,250/FEU while East Coast rates held steady to higher. Xeneta and Drewry cite softening demand and blank sailings after earlier front-loading; rates remain over three times pre-conflict levels. Read →

At least seven ship-to-ship oil transfers occurred off Sohar on Thursday as shuttling activity resumes. The practice helps move Gulf crude despite limited direct Hormuz transits. It supports continued exports amid Middle East hostilities while full waterway traffic stays suppressed. Read →

The Baltic Dry Index fell 32 points or 1.2% to 2,632 on July 29, its lowest in four weeks. Capesize rates dropped 1.8% to 4,067 and supramax declined 1.2% to 1,628, while panamax edged up 0.4%. Lower earnings for iron ore, coal and grain carriers signal softening dry-bulk demand. Read →

Thirty-nine commodity ships passed the Bab el-Mandeb on July 28, the highest weekly total since July 19, including VLCC Sophia and Aframax Ocean Laureate carrying crude. Only eight ships transited the Strait of Hormuz that day. Houthis claimed a missile strike on a Saudi tanker, keeping chokepoint risks elevated for tankers and dry bulk. Read →

Vessel transits through Bab el-Mandeb rose to 28 on Monday per Kpler data, including four oil tankers entering the Red Sea (one VLCC, two Suezmax, one Aframax). Hormuz traffic stayed low at six vessels. The increase signals easing chokepoint pressure even as regional tensions persist. Read →

NZT and KSK in Novorossiysk plus ZTKT in Taman restricted truck deliveries due to rising Black Sea risks from drone attacks. The three terminals handle over 20 million tons of grain yearly; Russia diverts flows to Baltic ports as alternatives amid Sea of Azov restrictions. Read →

Kpler data showed 28 vessels transited Bab el-Mandeb on Monday, up from recent lows, including one VLCC, two Suezmax and one Aframax tanker. Traffic through the Strait of Hormuz remained low at six commodity vessels. The increase signals partial easing of Red Sea disruptions tied to Houthi threats and US-Iran negotiations. Read →

Brent crude fell below $90 amid a pause in US-Iran hostilities, yet tanker and cargo rerouting around chokepoints persists. The newsletter highlights ongoing supply-chain costs from Middle East tensions that may support oil prices longer term. Read →

The Baltic Dry Index fell 47 points or 1.7% to 2,696 on Monday. Capesize rates dropped 2% to 4,200, Panamax slipped 1.2% to 1,999 and Supramax eased 1.4% to 1,670, ending a three-day gain streak. Read →

Spot container rates from Asia to US West Coast fell to $5,800-$7,100/FEU this week while East Coast rates ranged $7,600-$9,150/FEU. Drewry noted six blank sailings scheduled next week on transpacific routes amid rising capacity and easing demand. Chemical tanker rates from US Gulf softened across routes as spot activity stayed quiet and bunker costs rose with Middle East tensions. Read →

Yemen's Houthis said they struck Saudi-flagged tankers Encelia and Layla with missiles and drones in the Red Sea for violating a blockade. Saudi state agency SPA confirmed a fire on Encelia's bow with no crew injuries reported. The attacks add pressure on Bab el-Mandeb transit, a key route for oil shipments, following earlier threats and vessel diversions. Read →

Shiptracking data from Kpler showed only one tanker crossed the Strait of Hormuz on July 23, down from three the prior day. Commodity tanker crossings at Bab el-Mandeb rose to 32 from 26. The drop coincides with elevated Middle East shipping risks and Brent crude above $100 per barrel. Read →

Houthis claimed missile and drone strikes on Saudi tankers Encelia and Layla as part of a naval blockade on Saudi Arabia. Several tankers rerouted or turned back near the Bab el-Mandeb Strait. The move risks creating a second major chokepoint for oil flows alongside Iran's near-closure of the Strait of Hormuz, potentially disrupting millions of barrels per day of Saudi crude exports. Read →

Container spot rates eased following an early peak season surge tied to tariff frontloading. Capacity additions and cooling demand contributed to the softening on key trades. The shift signals the peak momentum may be subsiding after weeks of strength. Read →

Drewry's World Container Index declined 2% to $4,547 per 40ft box, marking the end of 10 weeks of gains. The drop reflects subsiding peak-season momentum on major routes. Spot rates on Asia-Europe fell 3% to $6,300 per 40ft. Read →

Lloyd’s List Intelligence logged 53 transits for the week to July 20, down 66% from 157 the prior week; tanker and gas carrier crossings fell to 30 from 90. Kpler and S&P Global data showed daily crossings dropping to single digits after the renewed blockade and strikes. The waterway, which handles roughly a fifth of global oil consumption, sees mainstream owners avoid it, reversing post-ceasefire normalization and pressuring energy flows. Read →

Kpler data showed transits falling to eight vessels on July 16 from 15 the day before; Lloyd’s List Intelligence confirmed a 66.2% weekly drop. Pre-conflict averages of 138 ships per day contrast with the current near-halt driven by Iranian attacks, US blockade, and mines threat. Houthis separately declared a naval blockade on Saudi Arabia, adding Red Sea risks that could cut global oil supply by up to 7%. Read →

VLCC TD3C TCE (AG to CN) climbed $3k to $382k while TD22 (US to CN) fell $8k to $96k. Suezmax average TCE gained $2k to $152k and Aframax rose $7k to $94k. The mixed moves reflect ongoing chokepoint volatility from Hormuz disruptions. Read →

Iran attacked a tanker in the Strait of Hormuz early Tuesday, forcing the crew to abandon the vessel. The UK Maritime Trade Operations centre reported the incident off Oman. Shipping through the strait has largely stalled as US-Iran fighting enters its 10th night, disrupting a key route for crude oil and natural gas trade. Read →

The Baltic Dry Index dropped 81 points Monday to 2,671. The London-based benchmark tracks spot rates for dry-bulk cargoes including coal, grain and iron ore. It marks the fourth straight decline amid softer cargo demand and higher vessel supply. Read →

A tanker came under attack in the Strait of Hormuz as US forces conducted a tenth night of strikes on Iranian targets. The incident adds to halted traffic in the waterway, which normally carries about a fifth of global crude and natural gas shipments. Read →

U.S. Central Command launched fresh strikes on Iranian targets to degrade attacks on commercial shipping in the Strait of Hormuz. Iran's Revolutionary Guards reported two oil tankers exploded and were immobilized on an "unsafe" southern route, warning the waterway remains unsafe for oil, gas, and petrochemicals amid ongoing U.S. aggression. Only four vessels transited Hormuz on Sunday per LSEG data, down from eight the prior day, with oil prices rising 2% above $90/bbl. Read →

Iran's IRGC navy stated two ships attempting to exit Hormuz via an "unsafe route" suffered accidents and stopped, while two others refused to proceed. Ships carrying oil, gas, or fertilizer must seek permission and use designated passages or risk incidents, as the Guards maintain the strait is unsafe under continued U.S. actions. Read →

Iran instructed Houthi allies to stand ready to shut the Bab el-Mandeb Strait and Red Sea oil route if the US attacks Iranian power infrastructure. The threat would simultaneously disrupt the Strait of Hormuz and Red Sea, two key Middle East energy export corridors carrying significant shares of global supplies. This escalates risks for tanker and dry bulk shipping, potentially driving further rate surges and rerouting. Read →

The Baltic Dry Index fell 89 points to 2,840 on July 16, 2026, ending a recent advance amid mixed segment performance. The decline reflects softening demand signals in dry bulk commodity shipping despite broader geopolitical tensions. It signals near-term pressure on rates for iron ore, coal and grain cargoes. Read →

VLCC and other tanker rates rose sharply on key Middle East Gulf routes due to escalating US-Iran hostilities, reduced vessel availability and war-risk premiums. Owners accelerated newbuilding orders while second-hand asset values climbed. The moves highlight direct pressure on crude and product tanker earnings from Hormuz disruptions. Read →

Tanker transits through the Strait of Hormuz fell sharply on Wednesday as renewed US strikes on Iran and Iranian attacks on commercial ships raised safety concerns. Data showed the lowest levels in two months for some metrics, with vessels rerouting or idling. The chokepoint carries about 21% of global seaborne oil trade, directly pressuring VLCC, Suezmax and Aframax earnings via higher war-risk premiums. Read →

Performance Shipping extended the time charter for its 2011-built 104,623 dwt Aframax M/T Blue Moon with American Eagle Tankers for 24 months at an average gross rate of $40,500 per day. The deal averages $43,000/day in year one and $38,000/day in year two. It provides earnings visibility for the mid-size tanker amid volatile spot markets influenced by Middle East disruptions. Read →

Iran struck three crude supertankers with missiles and drones overnight, halting short-haul shuttle tanker operations through the Strait of Hormuz. The attacks raise risks for the chokepoint handling one-fifth of global oil trade, pushing front-month WTI up 0.7% to $79.91 per barrel in early Asian trade. Read →

The Stolt Magnesium chemical tanker suffered an engine-room fire after an external device explosion 40 nautical miles off Oman early Tuesday. Crew is safe and fighting the blaze; the incident follows recent Iranian cruise-missile strikes on UAE VLCCs in Hormuz that killed one sailor. Read →

Performance Shipping extended a two-year time charter for its Aframax tanker M/T Blue Moon at an average $40,500 per day. The deal locks in strong earnings for the vessel amid elevated tanker rates from Hormuz disruptions. Read →

Baltic Exchange West Africa-China VLCC TCE index rose to $188,957 per day Monday, up 92% week-on-week to the highest since March 10. US Gulf-China VLCC index climbed to $154,987 per day, up 46% w/w. Uncertainty over partial Strait reopening pulls tonnage and lifts Atlantic and Oman-China rates despite low fixtures. Read →

Vessel traffic through the Strait of Hormuz stays low amid US-Iran negotiations and ceasefire claims. Asia-US container spot rates climb, with West Coast highs near $7,400/FEU. Tanker rates hold steady to softer as chemical and product segments face downward pressure. Read →

Baltic Exchange dry bulk freight index advanced to 2,960 points Monday, gaining 0.54%. The move follows gains in the prior session and marks the second day of increases toward a recent high. Capesize and other segments contributed to the weekly 8.4% rise. Read →

Iran struck the Cyprus-flagged container ship GFS Galaxy in the Strait of Hormuz on July 11, causing engine damage and fire; the crew abandoned ship. This marks the fourth attack on commercial vessels since July 6, prompting Iran to declare the strait closed and the US to launch a third round of strikes on Iranian targets. Maritime security threat level rose to 'Severe', with transits possible only on the southern route near Oman amid heightened risks to oil, LNG, and container flows. Read →

Ship transits through the Strait of Hormuz fell sharply after weekend US-Iran clashes, with visible AIS data showing no traffic despite conflicting claims of openness. Iran attacked the containership GFS Galaxy and declared the strait closed until US interference ends, while Centcom disputed the closure and noted ongoing strikes on Iranian military sites. The disruption threatens recovery in Gulf crude, product, and LNG exports amid elevated security risks. Read →

Cosco Shipping Energy expects first-half net profit to rise 141% to $664 million, driven by surging tanker rates from the Hormuz crisis. All vessels temporarily stranded in the Gulf have now exited the strait safely. Elevated earnings are expected to persist as tanker rates remain high due to ongoing disruptions. Read →