Rising tensions between Iran and Israel continue to support upward pressure on crude rates.
This week has been characterized by significant volatility across the market, with the gas and tanker segments particularly impacted as revenues fluctuate in response to escalating tensions between Israel and Iran in the Gulf region.
At this stage, the tanker segment is benefitting from these disruptions. Prolonged voyages and operational inefficiencies resulting from the conflict are driving up revenues. Crude carriers—particularly VLCCs—are showing notably strong performance. For a comprehensive analysis of geopolitical impacts on shipping, refer to Article 2.
Gas rates have now exceeded USD 70,000.
The gas market is also experiencing strong momentum, especially on the Arabian Gulf–East Asia route, where daily earnings have surpassed the USD 70,000 threshold. However, heightened volatility is expected in the near term as market conditions continue to evolve.
Meanwhile, the PCTC segment is showing signs of improvement, supported by a rebound in new vehicle registrations, offering a more positive outlook. Further details are available in Article 3.
Source: Clarksons, Fearnleys Securities