- Tanker freight rates rebound to multi-week highs after earlier 2025 lows.
- Product tanker equities surge up to 25%, outperforming crude-focused stocks.
- Strong Q2 earnings from key operators, though Q3 bookings show mixed signals.
Tanker market sentiment is on the rise as freight rates climb across vessel segments, reversing a slump from earlier in the year, reports Seatrade Maritime News.
The upswing is driven by shifting oil flows, OPEC+ production changes, and persistent geopolitical factors influencing global shipping patterns.
Freight Rates Surge, Analyst Confidence Soars
Analysts note that the recent momentum has boosted tanker-related equities, with product tanker companies leading the charge. Product-focused stocks have gained around 20% in recent weeks, with Scorpio Tankers jumping by 25%. Crude tanker stocks have also advanced, rising 14% and adding to a strong year-to-date performance of nearly 30%—well ahead of broader market benchmarks.
Operational data from leading shipping companies further reflects the improving conditions. International Seaways has secured solid third-quarter bookings, with large crude carriers (VLCCs) locked in at over USD 35,000 per day for half of their operating days, and mid-size segments like Suezmax and Aframax also achieving healthy daily rates. The MR product tanker segment stands out, with rates above USD 23,000 per day for more than a third of its bookings.
DHT Holdings, a major VLCC operator, posted a robust second quarter with spot earnings averaging nearly USD 49,000 per day, up from the previous quarter’s USD 36,000. However, early third-quarter bookings are trending lower, in the USD 38,500–39,500 range. The company has maintained its commitment to returning all ordinary net income to shareholders through dividends.
While current rate levels suggest healthy returns, analysts caution that market volatility remains a factor. Seasonal demand shifts, political developments, and global oil trade realignments will continue to shape tanker fortunes in the months ahead.
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Source: Seatrade Maritime News
