Tankers Dominate the Maritime Shipping Market in 2026
Sea News – International Desk – While Far East markets have experienced a temporary slowdown due to the Lunar New Year holidays, weekly global shipping indices indicate notable activity across key maritime trade routes.
According to the market assessment for Week 8 of 2026, the tanker sector emerged as the focal point of trading activity, driven by an unprecedented surge in freight rates on major energy routes. At the same time, the dry bulk market, following a period of relative calm, resumed its upward trajectory on the back of renewed Atlantic demand—pushing daily earnings for some Very Large Crude Carriers (VLCCs) close to USD 150,000.
Capesize Leads the Dry Bulk Market
The Capesize segment began the week with limited volatility but gained clear upward momentum by midweek, supported simultaneously by both the Atlantic and Pacific basins.
Accordingly, the C5TC average index jumped by USD 3,157, rising from USD 25,692 at the start of the week to USD 28,849 at market close.
On key routes, freight rates from West Australia to China (C5) climbed to USD 9.378 per ton midweek. Meanwhile, heightened activity in the North Atlantic pushed Transatlantic and Fronthaul daily earnings to USD 34,344 and USD 55,028, respectively.
Panamax Shows Resilience
The Panamax segment concluded the week with relative stability and a modest upward trend. A steady flow of grain cargoes from the east coast of South America, coupled with increased demand on Indonesian routes, lifted the P5TC index from USD 14,829 to USD 15,989 per day by Friday.
Earnings Surge in the Crude Tanker Market
In the tanker market—particularly the VLCC segment—rates continued their upward climb despite the Lunar New Year slowdown in Asia.
On the Middle East Gulf to China (TD3C) route, rates rose by 26 points to WS 163.28, translating into estimated daily earnings of USD 151,208 per vessel, marking one of the highest levels recorded in recent months.
A similar trend was observed in the Atlantic basin. Rates on the West Africa to China route increased by 22 points, generating daily earnings of approximately USD 130,650. Additionally, the US Gulf to China route saw a USD 766,000 increase in total voyage costs, pushing daily earnings close to USD 100,000.
Broad-Based Improvement in the Suezmax Segment
All Suezmax routes registered rate increases. Notably, the Nigeria to Europe route recorded daily earnings of USD 73,400, while earnings in the Black Sea surged to USD 117,680 per day.
Refined Products Market: Stability in the East, Volatility in the West
The clean petroleum products tanker market displayed a dual, region-specific pattern during Week 8.
In the LR2 segment, rates on the Middle East Gulf to Japan (TC1) route remained largely unchanged, stabilizing at daily earnings of USD 36,000.
Within the MR segment, conditions improved in the Middle East Gulf, with daily earnings recovering to USD 19,300. Conversely, after a midweek dip, the US Gulf market rebounded, with daily earnings on the US Gulf to Europe route reaching USD 33,200.
Meanwhile, the Handymax segment in the Mediterranean and Northern Europe experienced a downward week, with indices declining by 16 to 18 points.
Market Outlook
Data from Week 8 of 2026 indicate that the energy shipping market remains bullish, driven by operational constraints, shifting demand patterns, and tightening fleet availability.
Although pressure on rates persists in the small bulk segment—particularly Handysize vessels in the Pacific—due to limited cargo flows, the strong performance of tankers and the recovery of dry bulk shipping in the Atlantic highlight the maritime supply chain’s resilience amid seasonal volatility.
