Market growth is gaining momentum following a subdued start to 2025
The PCTC market remains stable, with EU new car registrations increasing by 1.6% in May—marking a second consecutive month of growth after a subdued start to the year. Battery electric vehicles now account for 15.4% of market share, supporting long-term trade prospects.
Robust trading activity observed recently in anticipation of upcoming tariff changes
Seaborne transport volumes exceeded expectations in April and May, driven largely by frontloading ahead of new US tariffs. Some of this effect may persist into June, with normalization anticipated from July onward.
While fleet expansion—expected to reach 12% in 2025—remains a key consideration, recent demand resilience and strong long-haul trades are contributing to a more balanced short-term outlook.
Source: Fearnleys Securities