Shipping & Freight

The Baltic Dry Index rose 5.5% to 3,331 points on September 2, its highest since December 2023, led by an over 8% jump in the Capesize index. Typhoons have tightened Pacific vessel supply while Australian and Guinea iron ore exporters ramp up shipments amid strong Atlantic and Pacific demand. The move lifts the index 77% year-to-date as Middle East disruptions add to tonnage constraints. Read →

The Baltic Dry Index climbed 5.5% to 3,331 on September 2 in London, driven by an 8% Capesize rate gain amid Pacific typhoons and ramped-up exporter deliveries. Analysts at Thurlestone Shipping called it a perfect storm of tightening supply and dual-basin demand. Shares in dry-bulk carriers have outperformed tanker stocks this year on the freight rally. Read →

Baltic Exchange VLCC time-charter equivalent rates reached $47,000/day, up 41% year-on-year, while Suezmax TCE hit $62,000/day, up 149% YoY. Frontline, Okeanis, Teekay Tankers and TEN shares closed at 2026 highs. Middle East Gulf, US Gulf, Brazil and West Africa trading activity supported the gains amid ongoing geopolitical pressures. Read →

Geopolitical tensions in the Middle East drove bunker prices sharply higher early in the week, lifting Pacific Capesize voyage rates into the low-$11,000s before momentum faded to the mid-$9,000s. Atlantic C3 iron ore fixtures held firmer around $27,000 while Supramax/Ultramax saw scrap and regional demand support rates near $20,000. The moves reflect fuel-cost pass-through rather than fresh cargo demand, pressuring owner margins on voyage charters. Read →

The Baltic Dry Index rose 174 points (+5.51%) to 3,331 on Sep 2, its highest since Dec 2023, led by the Capesize index surging 421 points to 5,642 with average earnings up $3,819/day to $51,169. Panamax gained 69 points to 2,429 while Supramax added 7 to 1,657. Broad gains across larger segments signal firmer Atlantic/Pacific iron ore and coal fixing despite softer futures. Read →

Bahri’s VLCC Sidr and a Sinokor-operated supertanker were struck by projectiles late Monday while exiting the Strait of Hormuz near Oman, killing two Filipino crew on the Saudi vessel. UKMTO and Marisks confirmed the incidents; traffic through the strait collapsed to just four commodity vessels on Tuesday. The attacks renew chokepoint risk for VLCC and Suezmax loadings out of the Gulf. Read →

A laden Korean Sinokor VLCC was hit by rockets while transiting the Strait of Hormuz and is now listing off Oman. The incident follows similar attacks, including one on the Saudi VLCC SIDR that killed two sailors. Heightened risks in the chokepoint tighten VLCC availability and support elevated spot earnings for crude tankers. Read →

A tanker was hit by three projectiles while in the Strait of Hormuz. The attack adds to recent violence against shipping in the waterway, including incidents involving Saudi and other vessels. Such events sustain war-risk premiums and constrain effective tanker supply on key crude routes. Read →

The container market continues rising to its highest level since October 2022. Tight tonnage supply, with 2026 almost sold out, persistent port congestion exceeding pandemic levels, and geopolitical disruption in the Red Sea and Strait of Hormuz support the gains. Charter rates for various sizes have firmed accordingly. Read →

The Baltic Exchange dry bulk index dropped 58 points to 1,718 on Thursday. Capesize fell 157 points or 5.5% to 2,721 with daily earnings down $1,416 to $21,179. Supramax lost 17 points to 976 while panamax rose 19 points to 1,336 with earnings up $177 to $12,028. Iron ore futures retreated on China intervention fears near $110/ton. Read →

The Panama Canal Authority temporarily eases Neopanamax booking rules to give carriers flexibility securing slots. Reduced capacity preparations and weaker rainfall forecasts increase restriction risks through late 2026. The move affects container schedules on routes like Asia-US East Coast. Read →

The TD3C Middle East Gulf-China VLCC route rose another 54 points to WS623, equating to over $647,000 daily TCE. Suezmax rates softened sharply while Aframax firmed in the Med and North Sea. Dry bulk Capesize earnings climbed to $48,399/day with broad Atlantic and Pacific support lifting the BDI. Read →

Persistent Hormuz disruptions and STS backlogs have pushed Baltic TD3C to a new all-time high of $656,168/day TCE. VLCC idle time rose 23% as tonnage waits outside the strait. Frontline notes surging interest in three-year charters from majors seeking to lock in gains. Read →

Orient Overseas International Ltd reported lower first-half profit amid higher fuel and operating costs from Red Sea diversions. The company warned freight rates may decline as seasonal demand fades and new container capacity arrives. This signals potential softening in container markets despite recent rate strength from disruptions and tariffs. Read →

SK Gas paid a record $5.3 million in a Panama Canal auction for its LPG carrier G. Spirit to transit northbound on September 1. Drought has cut capacity and raised waits to 11 days, pushing auction prices nearly 100 times above February medians. The move highlights pressure on LPG and gas carrier routes due to restricted slots and rerouting risks. Read →

Visible commodity vessel transits through the Strait of Hormuz totaled 10 on Wednesday, up from eight the prior day but below the 10-day average of 15. Iran and Oman continue talks on a potential agreement for traffic management and revenue sharing. Limited activity persists with a tanker incident reported, keeping tanker and energy shipping routes constrained. Read →

The Baltic Exchange dry bulk index rose 4.4% to 3,056 on Wednesday, its fifth straight gain and highest since August 10. Capesize rates jumped 6.3% to 5,033 with daily earnings up $2,706 to $42,148. Iron ore futures rose as Typhoon Narra disrupted South China Sea routes, tightening supply and lifting freight. Read →

UKMTO reported a tanker hit by an unknown projectile northwest of the Musandam Peninsula around 1730 UTC on August 25. The crew extinguished the resulting fire with no injuries or pollution reported; the incident remains under investigation. It follows a Monday strike on another tanker in the area amid ongoing Hormuz tensions. Read →

UKMTO confirmed another tanker strike by projectile in the Strait of Hormuz on Tuesday. Commodity vessel transits stayed low at five on Tuesday versus a 10-day average of 15, per Kpler data, as Iran-Oman talks continue on a temporary corridor. Read →

The Baltic Dry Index advanced 1.5% to 2,926 points, its highest since August 12. Capesize rates jumped 2% to 4,735 points while Panamax gained 2% to 2,166 points. The gains reflect sustained demand for iron ore, coal and grain cargoes across major segments. Read →

Container port congestion reached a new absolute high of 4.3 million TEU waiting to berth. Successive typhoons including Narra disrupted Chinese ports, with Shanghai and Ningbo queues at multi-month highs. The backlog exceeds the prior Covid-era peak and supports elevated transpacific freight rates. Read →

Asia-US container rates increased on extended peak-season demand, blank sailings and Chinese port congestion. Liquid chemical tanker rates ex-US Gulf stayed largely stable. The Panama Canal Authority will lower Neopanamax draft limits to 48 feet on August 26 and 47.5 feet on September 3 due to El Niño-driven low water levels at Gatun Lake. Read →

The Baltic Exchange Dry Index rose 41 points or 1.44% to 2,882 on August 24, its highest since mid-August, with the Capesize sub-index up 2% to 4,643 and Panamax gaining 1.3% to 2,131. Gains were led by stronger Pacific Capesize activity tied to iron ore and coal cargoes. The move lifts earnings across segments and signals firmer dry-bulk demand. Read →

Drewry’s World Container Index climbed 4.3% to $4,526 per FEU in the week to August 20, its third straight gain, driven by 9% jumps on Shanghai-New York and Shanghai-Los Angeles to $9,507 and $6,802. Asia-Europe rates eased slightly while blank sailings, Panama surcharges and congestion tighten supply. Drewry sees rates stable next week amid resilient demand. Read →

VLCC spot rates in the Gulf hit a record $800,000 per day as strong Chinese crude buying and tight tonnage lists drive fixtures. Activity surged east and west of Suez amid ongoing Hormuz-related rerouting and supply disruptions. The surge boosts tanker earnings and highlights persistent geopolitical pressure on crude flows. Read →

The 2003-built 300,000 dwt Hellstugutinden changed hands over the weekend for $57 million, the latest sign of surging demand for vintage non-sanctioned tonnage. Arrow assessed Middle East Gulf-China VLCC earnings at the equivalent of $584,505 per day on Friday. Strong spot rates and high newbuilding costs are driving exceptional secondhand values even for older clean-history vessels. Read →

Baltic Exchange tanker assessments for the week ending Aug 21 showed the TD3C Middle East Gulf-China VLCC route rising 88 points week-on-week to WS570, equating to roughly $585,000 per day round-trip TCE. Suezmax routes such as Nigeria-UK Continent climbed to WS328.89 with TCEs above $165,000/day, while Aframax and clean product segments also firmed across multiple basins. The gains reflect tight tonnage and sustained demand amid chokepoint disruptions. Read →

VLCC spot rates exploded with Atlantic fixtures at WS182.5-210 and US Gulf-China lump sums implying $252k-$260k/day TCE, far above Baltic assessments around $146k/day. Chinese crude import demand is pulling tonnage on long-haul voyages while the Hormuz crisis thins the effective fleet and concentrates ships in the Gulf. The surge spans Suezmax and Aframax segments too, marking one of the strongest tanker markets in years. Read →

The Drewry WCI climbed 4% to $4,526 per 40ft, led by Shanghai-New York and Shanghai-Los Angeles rates both rising 9% to $9,507 and $6,802. Resilient transpacific demand and carrier capacity cuts via blank sailings (seven announced for next week) plus month-on-month capacity declines tightened space. Asia-Europe rates eased 1-2% amid elevated port congestion at Shanghai and Rotterdam. Read →

Kpler data showed nine commodity vessels transited the Strait of Hormuz on Wednesday, flat from the prior day and well below pre-crisis averages. Conflicting US and Iranian statements on reopening left owners avoiding the route despite some dark or Omani-side movements. Bab el-Mandeb traffic also slowed, sustaining rerouting pressure on tanker and dry-bulk flows. Read →

Kpler tracking recorded nine commodity vessel transits through the Strait of Hormuz on Wednesday, unchanged from Tuesday. US President Trump stated no talks were occurring and the strait was open, while Iran maintained it remained shut. Bab el-Mandeb traffic also eased to 27 vessels. Read →

The Baltic Exchange dry bulk index fell 63 points or 2.2% to 2,815 on Tuesday. Capesize rates dropped 3% to 4,452 and panamax fell 2.3% to 2,155, both at multi-week lows; supramax edged up 0.2%. The decline ended a two-session advance driven by weaker capesize and panamax earnings. Read →

Only six commodity vessels crossed the Strait of Hormuz on Tuesday versus a 10-day average of 11. President Trump asserted the waterway is open while Iran maintains it remains shut, with most owners avoiding transits. Chinese majors COSCO and CMES have routed tankers outside the Gulf for loadings. Read →

The Baltic Dry Index advanced 0.52% to 2,878 points on August 17. Capesize index rose 1.2% to 4,590 while supramax hit its highest since July 28 at 1,628; panamax fell 1% to 2,206. Gains reflect firmer iron ore and coal demand offsetting softer grain trades. Read →

Kpler data showed commodity vessel transits through the Strait of Hormuz fell to five on Saturday and zero on Sunday, versus 31 the prior weekend. Attacks on ADNOC tankers and stalled US-Iran talks prompted the slowdown, with some vessels likely transiting undetected. The strait normally handles one-fifth of global oil and LNG shipments. Read →

Baltic Exchange West Africa-China VLCC TCE index hit $188,957 per day, up 92% week-on-week and highest since March. US Gulf-China index rose to $154,987 per day, up 46% w/w. Tonnage shifts toward Middle East amid stop-start Hormuz traffic, tightening effective capacity outside the strait. Read →

The Baltic Exchange dry bulk index fell for the fourth session to 2,844 points, lowest since Aug 3. Capesize slipped 5.2% to 4,469 points and Panamax fell 1.7% to 2,262 points, while supramax edged up 0.6% to 1,613 points. Read →

Drewry's World Container Index rose 1% to $4,339 per 40ft container. Transpacific rates strengthened, with Shanghai-New York up 10% to $8,706 and Shanghai-Los Angeles up 6% to $6,244 per 40ft. Asia-Europe rates declined, Shanghai-Genoa down 8% to $5,080. Read →

All recent Yanbu crude loadings occurred without AIS signals as tankers avoid Houthi attacks; Vortexa data shows Sidi Kerir loadings hit a record 2.17 million bpd last week, up 50% week-over-week with 90% Saudi crude. Ship-tracking firms report widely divergent export estimates due to dark voyages. This obscures Saudi flows, raises war-risk insurance costs, and shifts more VLCC loadings north via SUMED pipeline or Suez Canal. Read →

Exports from Egypt's Sidi Kerir port more than doubled to about 2.3 million bpd in August versus 1 million bpd last month, mostly Saudi crude routed via the SUMED pipeline. Yanbu exports through Bab el-Mandeb fell nearly 90% week-over-week per Kpler data. Longer Cape of Good Hope voyages to Asia increase costs and shift cargoes toward Europe and the US. Read →

SK Shipping will receive 16 LNG vessels and long-term contracts from H-Line in exchange for 12 tankers, contracts and about $300 million cash. The deal makes SK Shipping Asia's largest LNG carrier operator and the world's third-largest. H-Line will focus on tankers and bulk shipping. Read →

Kpler data showed eight vessels tracked in the Strait of Hormuz on Tuesday, below the 10-day average of 12 and far below the pre-closure 130-140 daily transits. Seven entered via the Iranian route while one coal carrier exited; LSEG reported 11 transits. Reduced flows tighten VLCC and product tanker availability for Middle East crude and gas exports. Read →

Satellite imagery captured 12 ship-to-ship oil transfers spanning more than 100 km off Oman and UAE coasts on Monday. The activity shows some tankers continue dark transits despite attacks, sustaining limited crude flows from the Gulf. Read →

Kpler data showed only six vessels transited the Strait of Hormuz on Monday versus a 10-day average of 11, with four commodity carriers including two empty product tankers entering and one LPG and one residual fuel tanker exiting. Pre-war daily transits averaged 130-140 vessels. The drop comes as U.S.-Iran peace talks stall and President Trump demands compensation from Iran, keeping energy shipping disrupted. Read →

The Baltic Dry Index declined 6 points to 3,083 on Monday after recent gains. The index tracks spot rates for Capesize, Panamax and Supramax vessels carrying iron ore, coal and grain. Monday's move reflects softening in larger segments amid ongoing geopolitical tensions elsewhere in shipping markets. Read →

A Houthi missile strike reportedly hit a Saudi commercial vessel in the Bab el-Mandeb Strait, killing three crew members including two Pakistanis and one Indonesian. The attack adds to Red Sea risks as traffic through the strait remained near its recent average of 25 vessels on Monday per Kpler. It underscores persistent threats to energy and commodity shipping in the region. Read →

The Baltic Dry Index rose 32 points to 3,089 on Aug 7. The gain came as capesize and panamax segments strengthened on firmer demand for iron ore, coal and grain cargoes. Higher rates lift earnings for dry-bulk owners and signal tighter tonnage supply. Read →

Drewry’s World Container Index rebounded 1% to $4,297 per 40ft container for the week of Aug 6. Transpacific rates from Shanghai to Los Angeles and New York rose 3-4% on GRIs and firm volumes. Chinese port congestion tightened capacity and supported the rebound. Read →

Baltic Exchange assessed TD3C MEG-China VLCC at WS475.56, equating to a round-trip TCE of $481,286/day. Suezmax and Aframax rates eased on Atlantic routes. Elevated VLCC earnings reflect strong Middle East crude export demand amid chokepoint risks. Read →