Activity over the past week looked to be more dynamic in the S&P front, rather than the newbuilding market. In its latest weekly report, shipbroker Xclusiv said that “on the On the Newcastlemax sector, Chinese buyers acquired the “RTM CARTIER” – 205K/2012 HHIC and the “RTM ZHENG HE” – 205K/2012 HHIC for excess USD 90 mills each. Moving down the sizes, the Post-Panamax “OHSHU MARU” – 92K/2011 Namura was sold for USD 16.2 mills, while the Panamax “ALEXANDROS PETRAKIS” – 76K/2008 Shin Kasado sold for region USD 13.3 mills to Chinese buyers.

Source: Xclusiv

In the Ultramax sector, two resales the “NEW DAYANG NDY1315” and “NEW DAYANG NDY1316” – 64K/2027 New Dayang changed hands at USD 36.5 mills each. On the Supramax segment, the “SUNNY ROYAL” – 59K/2011 Kawasaki was sold for USD 18.5 mills with SS/DD due 2028/2030, while the “HONOUR” – 57K/2010 Cosco Zhoushan sold for USD 13.3 mills to Chinese buyers. Additionally, the OHBS “PHOENIX K” – 55K/2007 Oshima was sold for USD 14 mills. Finally, in the Handysize sector, Vietnamese buyers acquired the “STRADION” – 37K/2011 HMD and the “DORYSIA” – 37K/2010 HMD enbloc…

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With the war in the Middle East entering its fourth week, questions regarding oil production capacity are beginning to arise. In its latest weekly report, shipbroker Gibson said that “the past few days have seen the conflict extend beyond chokepoint disruption into direct strikes on production and refining infrastructure across the Gulf. Following Israel’s attack on Iran’s South Pars gas field on Wednesday, Iran retaliated with drone and missile strikes on energy facilities in Qatar, the UAE, Saudi Arabia, and Kuwait. Qatar’s Ras Laffan industrial complex was targeted, and Abu Dhabi’s Habshan gas facility and Bab oil field were shut down. Drone strikes caused fires at Kuwait’s Mina Al-Ahmadi (346 kbd) and Mina Abdullah (454 kbd) refineries, with the former being struck repeatedly, forcing a shutdown of the refinery. The SAMREF refinery in Yanbu and Haifa refinery in Israel were also struck, with damage still being assessed. After a brief pause over the weekend, attacks on vessels continued this week, as a ship was struck off Ras Laffan, and another off Khor Fakkan. Since 28 February, the UKMTO has reported a total of 19 attacks on commercial…

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EU crude oil imports fell slightly during 2025, with volumes retreating mainly from the Arabian Gulf and from the USA. In its latest weekly report, shipbroker Banchero Costa said that “in Jan-Dec 2024, global crude oil loadings went down by -0.2% y-o-y to 2,181.2 mln tonnes, excluding all cabotage trade, according to vessels tracking data from LSEG. In Jan-Dec 2025, global crude oil loadings increased by +2.0% y-o-y to 2,224.7 mln tonnes, excluding all cabotage trade, according to vessels tracking data from LSEG. Exports from the Arabian Gulf were up by +1.7% y-o-y to 883.4 mln t in Jan-Dec 2025, accounting for 39.7% of seaborne crude trade. Exports from Russia (including oil of Kazakh origin) increased by +2.1% y-o-y in Jan-Dec 2025 to 233.4 mln tonnes, or 10.5% of global trade. From South America, exports increased by +11.0% y-o-y to 220.6 mln t, with a share of 9.9%. From the USA, exports declined by -8.0% y-o-y at 181.7 mln tonnes in Jan-Dec 2025, an 8.2% share. From South East Asia exports fell by -11.3% y-o-y to 106.7 mln t in Jan-Dec 2025 (but this inevitably reflects changes in the re-export of Russian origin volumes)”.

Source: Banchero Costa

According to…

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The ship recycling markets showed signs of recovery as buyer demand is present. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships said that “the Indian market trended softer through most of the week, and despite the introduction of new import duties the overall tone remained weak; however, towards the very end of the week we began to see early signs of stability and a slight improvement in sentiment. Recyclers remain bullish on the medium-term outlook, despite the current softness. While buyer demand is present, there has been a clear dearth of tonnage coming into the market, which has been a key feature of the week. The Recycling Code 2026 has been received and is currently being worked on for implementation, and we will provide an overview on the Recycling Code and related domestic developments. Bangladesh remained subdued this week, with demand mainly focused on smaller units and limited appetite for larger tonnage. Local price levels softened further, while melting scrap values stayed broadly stable. Buyer participation remained thin and less aggressive than in recent weeks, keeping overall activity muted. February…

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The dry bulk market could face a shift in ton-mile demand moving forward. In its latest weekly report, shipbroker Intermodal said that “as 2025 draws to a close, the transitional period for the EU’s Carbon Border Adjustment Mechanism (CBAM) is coming to an end. From January 1st, 2026, CBAM enters its definitive phase, with reporting and financial obligations taking effect. However, while importers will be liable for emissions embedded in goods imported during 2026, the actual obligation to purchase CBAM certificates has been postponed to February 2027. CBAM imposes a duty on emission-intensive products at the EU border, with its scope covering the high carbon intensity sectors of aluminium, iron and steel, cement, electricity, fertilizers, and hydrogen. Importantly, CBAM targets the middle of the value chain rather than its extremes: it applies to precursors, primary forms, and semi-finished products such as pig iron, clinker, steel slabs, bars, and tubes, as well as some simple finished goods like bolts and screws. However, it excludes both raw materials, such as unprocessed iron ore, and complex finished goods like vehicles and appliances”.

Source:…

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