Research & Insights

With soybean inventories falling to a 2-year low of 6.5Mt, crushing margins are still positive and have found support at +44$/t.

Amid aging fleets, contracting challenges, and rising demand for modern, efficient vessels, the tanker fleet is set for substantial growth in 2025 and beyond, with approximately 23.2m dwt scheduled for delivery this year, primarily driven by coated product tankers.

Global bauxite shipments hit 6.5Mt last week, ending 1Q’25 at record levels.

With the Indonesian government enforcing a new coal pricing system and finalising new royalty rates, Asian buyers are rapidly shifting procurement strategies.

OPEC+ plans to restore 2.2 million b/d by September 2026, but near-term impacts are limited as compensation cuts from key overproducers offset increases until July. Medium-term prospects remain positive for crude tankers.

With only 22 bulk carriers (≥10kt-DWT) ordered through Jan-Feb 2025, it has been the slowest start to the year since 2018, signalling the end of the current cycle.

In 2025, China’s steel exports remain strong despite a slightly slower momentum.

OPEC+ has announced a phased reversal of production cuts, adding 2.2 million b/d by September 2026. While near-term uncertainties remain, the shift could benefit crude tankers. With oil prices having touched the high $60s, OPEC+ policy remains flexible amid evolving market conditions.

Pendulum swing? Global iron ore loadings hit 39Mt/Wk last week – just 3Mt/Wk below record – as Australian miners…

New US policy on China-built vessels: unintended hit on US agri exporters?

Despite a Category 5 punch and a 3-day halt at key ports in West Australia, Cyclone Zelia left iron ore operations largely intact with BHP and FMG already back in action.

Despite adverse weather in recent weeks and still facing this week, cumulated exports of US corn in the first 7 weeks of 2025…

China retaliated against US tariffs with a 15% duty on US coal and LNG and 10% on crude oil.

Still significantly impacted by the recent passage of Cyclone Sean (17-19 January), weekly iron ore exports from Australia have…

No policy announcements have been made with respects to Venezuelan sanctions, but what might the impact be on the tanker market if Trump decides to tighten them further?

With iron ore prices CFR China averaging 103$/t in December and briefly dipping to 98.8$/t, China’s Dec’24 output…

In December, China’s iron ore imports rose +10% MoM to 112.5Mt (+11.5% YoY), closing 2024 at 1.24Bt (+4.9% YoY) despite a challenged Chinese steel sector.

In recent days, both the Biden and Chinese administrations have enacted some interesting policy changes, which have, at the very least, the potential to set the direction of travel over the coming years for the tanker markets.

Dunkelflaute in China? Despite wind hitting a record 82.4TWh in Nov’24, driven by…

Reflecting rising loadings in the Pacific since mid-October, China’s coal imports surged +26% YoY to a record in November.