The product market strengthens – VLGC and PCTC remain steady
This week has been relatively quiet for the tanker segment. Suezmax earnings have slightly decreased compared to the previous week, although modern Suezmax vessels equipped with scrubbers remain strong, with an average rate of $45,000 per day. The product tanker market has shown some strengthening, with average earnings in the $20,000 per day range.
Moreover, activity in the VLGC and PCTC markets has been limited, with little change in rates compared to last week. However, exciting developments are emerging in the ammonia segment, which you can explore in more detail [here link – Article 4].
Global car sales are expected to grow by 3% annually
Looking ahead to the PCTC market, GlobalData forecasts that global light vehicle sales will increase by over 3% annually, reaching 91.6 million units by 2025. Although potential U.S. trade tariffs pose risks to global trade and economic growth, lower interest rates, the introduction of new car models, and competitive market forces are expected to support steady sales growth throughout the year.
Source : Clarksons