Research Reports

The WCSA dry bulk market is softening amid increased vessel availability, with near-term demand driven by charterers covering cargoes for mid-June, while significant congestion at the Panama Canal poses further operational challenges.

Amid rising scrutiny, the Net-Zero Framework (NZF) for shipping garners renewed support, as the IMO prepares for December deliberations.

Dry bulk fleet growth reached 1.5 per cent in 2026, with 211 vessel deliveries and 356 scheduled, amidst a high share of older units and declining newbuilding orders impacting future market dynamics.

Cuba's energy crisis escalates as US sanctions tighten, with protests erupting over severe fuel shortages. Meanwhile the EU revises its 2026 growth forecast down to 0.9 per cent amid ongoing geopolitical tensions in the Middle East.

Prices were on the decline last week until US strikes on Monday pulled them up, and fuel prices are rising.

Arbitrages in the Atlantic Basin are largely open, which has been reflected in certain routes.

Amid strong Asian cargo demand and rising volatility, the LNG market saw active trading in week 21, with ten spot fixtures and increasing term activity, highlighting owners' strengthened positions against a backdrop of shifting geopolitical factors.

Despite some limited success, especially in the clean Western markets, this week was broadly disappointing for tankers.

Week 21 saw subdued dry bulk activity in the Americas, especially in WCCA and Nopac, while handysize rates remained robust; Panama Canal delays and congestion at Puerto Quetzal are complicating shipping logistics.

Tanker Sale & Purchase activity slows as Posidonia approaches, with a notable VLCC sale at USD 40–41 million, while robust demand persists in the newbuilding segment amid stabilized dry bulk values despite a softening BDI.

Mixed market trends observed in dry bulk with Capesize rates falling to USD 44,931 amid weakening Atlantic sentiment. Indonesia's coal export centralization amid rising demand may disrupt global coal flows and pricing.

As US-Iran negotiations stall, tensions rise, with Iran's economy suffering under sanctions, while Trump continues to threaten escalation.