The tanker market is no stranger to geopolitical disruption, but today there are an increasingly wide range of geopolitical factors impacting market dynamics. While the tanker sector has relatively limited direct exposure to new trade tariffs, indirect impacts may develop, while other factors such as sanctions and conflicts are continuing to have material effects on tanker demand and supply.

The container shipping sector is facing a range of direct and indirect impacts from new US tariffs, with the segment appearing particularly ''exposed'' to US-China trade tensions and broader macroeconomic pressures. Here, we take a closer look at the current tariffs within the context of seaborne container trade, and review the initial emerging impacts and potential scenarios ahead.

Trade in steel products, the largest minor bulk trade, saw two consecutive years of growth in 2023-24 for the first time since 2014-15 amid easing macroeconomic headwinds and rising Chinese export volumes. However, a range of new tariff measures have been announced or introduced recently, and here we take a look at how steel products trade may be in for a rockier period ahead.

The ethane shipping sector has seen robust growth in recent years as surging US shale output drove investment in ethane export infrastructure and in newbuild very large ethane carriers (VLECs). However, with the escalation of trade tensions between the US and China (>50% of global ethane trade volumes) generating uncertainty, we take stock of recent developments.

The offshore wind sector is set for firm near-term growth underpinned by the large volume of capacity currently under construction. The long-term outlook for the sector also remains positive, though challenges persist.

The USTR has reduced the scope of its previously proposed port fees on Chinese-linked ships. Here we provide an update and further context statistics on the latest announcement.

Shipbuilding is receiving greater attention in the US, with the administration emphasising its goal of “revitalising” an industry it sees as strategically important and part of a wider push to “bring back” manufacturing jobs to the US. Here we drill into the history of US shipbuilding, the sector’s current landscape and the challenges US shipbuilding faces in rebuilding its footprint in the global industry.

Last week we profiled new US tariffs that increased potential direct exposure for some shipping segments and heightened general macroeconomic risk. This week, “fluid” policy has reduced tariff levels to a 10% “baseline” (for 90 days at least) but increased levels specifically for China (who have retaliated “tit for tat”). Meanwhile, other areas of US maritime policy continue to focus on maritime.

Ahead of WindEurope 2025, where Clarksons Research will be exhibiting alongside other divisions of the Clarksons Group, we have released a range of data points profiling the growth of the European Offshore Wind sector.

Wednesday’s announcement of broad new tariffs on US imports, and China’s initial retaliation, has “rattled” global markets. For shipping, volumes freshly ‘tariffed’ this year has increased to 3.7% of all seaborne trade (>460mt of 12.6bnt). Direct exposure is increasingly material in some shipping segments (e.g. cars) and the indirect negative impacts on the world economy are gathering pace.

Shipping’s vital “Fuelling Transition” has seen growing investment in vessels capable of operating on alternative fuels. Meanwhile, on the shoreside, significant investment is required in “green facilities” at ports to support reduction in emissions. On a global basis progress so far appears to have been lagging investment in “green fleet renewal”, but here we take a closer look at some of the trends.

Shipping markets remain in positive territory, with our cross-sector ClarkSea averaging $22,566/day through late March, 17% up on the 10 year trend. There are softer conditions in some segments and heightened geo-political uncertainties. And shipping today is at the ‘frontline’ of many geo-political dynamics, with governments (including in the US) increasingly viewing shipping strategically.

The long-term outlook for the offshore wind sector remains generally positive, though the sector is currently facing some challenges.

Offshore oil and gas markets have seen some mixed trends over the last six months, though a 7% drop in our Clarksons Offshore Index still leaves it on a par with 2008. Extracted from our forthcoming Offshore Review & Outlook, this week’s Analysis profiles the short-term more cautious attitude to investment from oil companies, but also areas where there is continued strength in offshore activity.

In 2024, vessel speed trends were mixed across sectors, with containerships seeing a pick-up as a result of Red Sea re-routing while declines were seen in the tanker and bulker segments. However, in early 2025, a more consistent picture is emerging across the segments, with vessel speeds now softening across the board.

Since mid-2024, offshore dayrate trends have become more mixed, and new project final investment decisions have slowed. A factor here is a more conservative attitude by oil companies, given current high levels of complexity in global oil markets. Oil markets look well supplied, given a lacklustre demand side along with output growth, but geopolitical risks add complexity to the outlook.

US policy around trade, maritime and a range of geopolitical issues is evolving rapidly, with the container sector particularly close to many potential impacts. Tariffs have been a recent focus, and new levies on China-US trade are central to trends on the Transpacific; the situation is fluid and impacts are yet to fully evolve, but here we take a closer look at this key part of container shipping...

Indian crude oil imports have continued to increase steadily in recent years against the backdrop of strong domestic oil demand growth, while shifts towards longer-haul flows have also been supportive for crude tanker demand. This month’s Analysis takes a closer look at Indian crude oil import trends and places continued gains into a global context.

An update on the latest USTR proposals in relation to Chinese vessels and shipbuilding, including details of the proposed measures, a range of context statistics and initial discussion around potential impacts.

The USTR has reduced the scope of its previously proposed port fees on Chinese-linked ships. Here we provide an update and further context statistics on the latest announcement.

A summary of the newly agreed shipping emissions regulation at the IMO, comprising a goal-based marine fuel standard, which sets a limit on the GHG intensity of marine fuels and decreases over time, and an integrated economic element, involving a credits trading system and GHG pricing mechanism.

A brief summary of the key environmental regulatory developments at the IMO, including a landmark agreement on the next phase of shipping's emissions regulation, an ongoing review of the CII regulation and approval of a new Emissions Control Area.

Ahead of WindEurope 2025, where Clarksons Research will be exhibiting alongside other divisions of the Clarksons Group, we have released a range of data points profiling the growth of the European Offshore Wind sector.

This week has seen further developments around US trade policy with a range of new tariffs and retaliatory actions announced, taking 'tariffed' trade to 1.8% of global seaborne volumes. Here we provide an update on the evolving US policy landscape and potential impacts for maritime.

There continues to be no significant change in Red Sea transit volumes since the Gaza ceasefire was announced with total arrivals in the Gulf of Aden averaging 1.34m GT in the last 7 days, down 71% on 2023 levels (2024 average: down 70%).

Following announcements by the EU (74 vessels in relation to Russia), the UK (40 vessels in relation to Russia) and by the US (13 vessels in relation to Iran), the count of vessels sanctioned has increased to 1,317 ships of 49m GT overall (2.9% of global capacity), including 569 oil tankers of 85m dwt (13% of the crude tanker fleet, 6% of the product tanker fleet).

An update on the latest USTR proposals in relation to Chinese vessels and shipbuilding, including details of the proposed measures, a range of context statistics and initial discussion around potential impacts.

Context and analysis around the current phase of containership alliance 'restructuring', which is likely to have a range of implications for container shipping markets...

Continuing our monitoring of the latest datapoints around the ongoing disruption in the Red Sea, with no material change in vessel deployment patterns apparent since the Israel/Hamas ceasefire was announced in mid-January.

Vessel speed trends were mixed across the major shipping sectors in 2024. Average speeds increased in the container and LNG carrier markets, while speeds declined in the tanker, bulker and LPG carrier segments. However, vessel speeds have declined in early 2025, with 2025 to date average speeds below full year 2024 levels across most shipping sectors.

The US introduction of tariffs on imports from China (and threats to tariff imports from Canada, Mexico and the EU) have sparked concerns around another escalating ‘trade war’. Recent weeks have also seen other announcements of policy changes and suggestions from the new US administration with various impacts on maritime. The situation remains incredibly fluid both in terms of tariffs and other geo-political dynamics. Here we update our assessment framework tracking impacts on maritime from the evolving US policy landscape.

Container shipping markets have remained strong into early 2025 after seeing firm gains through 2024 on the back of major impacts from the rerouting of ships away from the Red Sea. Despite some softening from the historic highs seen in the summer, container freight rates remain well above ‘pre-rerouting’ levels in early 2025, while charter rates stand at the highest levels seen outside of the Covid era.

A summary of the recently proposed SHIPS for America Act, which aims to increase the role of the US flagged fleet in international trade and strengthen the US's role in shipbuilding. The proposal comes against the backdrop of the US Trade Representative's recent investigation into Chinese maritime and shipbuilding practises.

Following Donald Trump's inauguration as US President on Monday 20th January, the new US administration has announced a number of US policy changes. Here for reference, we summarise the key announcements relating to maritime, and will continue to update our broader impact assessment framework over the coming weeks as further clarity and international reaction evolves.

Sanctions activity has escalated in recent weeks, with the US adding 186 ships (mostly trading Russian oil) to its sanctions list last week. New timeseries available provide an easy way to track in aggregate terms additions to sanction lists over time with 3% of total fleet tonnage currently sanctioned including 10% of oil tanker tonnage

Following the announcement of a ceasefire deal between Israel and Hamas, the prospects for a continuation of disruption to shipping through the Red Sea is again in focus. Here we summarise the current impact of vessel rerouting on shipping demand and review latest datapoints on deployment patterns (disruption levels remain consistent at present).

A summary of the key offshore wind market trends and statistics in 2024.

A summary of the key offshore market trends and statistics in 2024.

A summary of the key shipping market trends and statistics in 2024.

美国的贸易政策不断变化加剧了全球经济不确定性同时已生效的关税开始直接影响全球海运贸易流向。国际货币基金组织（IMF）已大幅下调全球GDP增长预期，不过目前受已生效关税影响的海运贸易量在全球总量中的占比仅为4%。目前克拉克森研究已发布下调后的2025年全球贸易预测，并从多个情境进行分析。

克拉克森研究新造船价格指数在小幅回升后重新下降，上周五录得187.33

克拉克森研究新造船价格指数在经历连续9周的小幅下降后小幅回升，上周五录得187.41

4月11日克拉克森海运指数环比下跌3.5%至24,869美元/天。年初至今均值同比下跌5%，不过仍较过去10年平均水平高21%。

克拉克森研究新造船价格指数已连续9周小幅下降，上周五录得187.34，期间中小型散货船、中小型原油轮、大型集装箱船等指导造价有所下降。

4月4日克拉克森海运指数环比下跌4%至25,777美元/天，年初至今均值同比仍下跌5%，不过较过去10年平均水平高21%。

伴随着汽车运输船加速交付、汽车贸易量增长放缓以及地缘政治情况不断变化，汽车运输船市场正从2021-2024年间特殊市场条件下的高位逐渐回落。

3月成品油轮市场大幅反弹，即期市场日收益平均值环比上升26%至25,900美元/天，较过去10年平均水平高34%。

受租船活动增加支撑，3月下旬开始VLGC船市场逐步走强。

进入3月LNG运输船市场出现小幅改善，但整体依然承压。

3月原油油轮市场延续年初以来的上涨趋势，即期市场日收益平均值环比上升7%至42,500美元/天。

集装箱即期运价整体持续回落，3月上海集装箱出口运价指数（SCFI）均值较2月下跌20%至1,351点，基本跌出疫情期外的历史最高区间。

散货船市场在经历1-2月的疲软后，2025年3月市场情绪已明显回暖，其即期市场日收益平均值环比大幅上涨41%至12,937美元/天。

3月28日克拉克森海运指数环比上涨1%至26,713美元/天，是8个月以来的最高值，年初至今均值同比仍下跌6%，不过较过去10年平均水平高38%。

克拉克森研究新造船价格指数连续8周小幅下降，上周五录得187.43，期间大型集装箱船、多用途船和汽车运输船等指导造价有所下降。

克拉克森研究新造船价格指数已连续7周小幅下降，上周五录得187.63

3月21日克拉克森海运指数环比上涨4%至26,466美元/天，较今年年初上涨24%且创下近9个月新高。年初至今均值同比仍下跌8%，但较过去10年平均水平高出18%。

2025年至今克拉克森研究新造船价格指数整体偏下行，已连续六周小幅下降，上周五录得188.14

3月14日克拉克森海运指数环比上涨6%至25,345美元/天，为近5个月最高值。年初至今均值同比仍下跌8%，但较过去10年平均水平高17%。

2025年至今克拉克森研究新造船价格指数高位波动偏下行，上周五录得188.30

The latest update on environmental and regulatory news across the shipping industry

A summary of the newly agreed shipping emissions regulation at the IMO, comprising a goal-based marine fuel standard, which sets a limit on the GHG intensity of marine fuels and decreases over time, and an integrated economic element, involving a credits trading system and GHG pricing mechanism.

A brief summary of the key environmental regulatory developments at the IMO, including a landmark agreement on the next phase of shipping's emissions regulation, an ongoing review of the CII regulation and approval of a new Emissions Control Area.

An update on the latest uptake of 'green' technology across the shipping sector

The latest update on environmental and regulatory news across the shipping industry

An update on the latest uptake of 'green' technology across the shipping sector

The latest update on environmental and regulatory news across the shipping industry

An update on the latest uptake of 'green' technology across the shipping sector

The latest update on environmental and regulatory news across the shipping industry

An update on the latest uptake of 'green' technology across the shipping sector

The latest update on environmental and regulatory news across the shipping industry

An update on the latest uptake of 'green' technology across the shipping sector

The latest update on environmental and regulatory news across the shipping industry

The 29th United Nations Climate Change Conference or Conference of the Parties of the UNFCCC, commonly referred to as COP 29, was held from 11th to 24th November 2024 in Baku, Azerbaijan.

An update on the latest uptake of 'green' technology across the shipping sector

The latest update on environmental and regulatory news across the shipping industry

Our latest update of Fuelling Transition continues our framework for monitoring the huge regulatory, technological and investment challenges facing stakeholders across maritime

Summary of the latest IMO environmental regulatory developments

An update on the latest uptake of 'green' technology across the shipping sector

The latest update on environmental and regulatory news across the shipping industry

A summary of the latest content, new data and new features recently added to Shipping Intelligence Network.

A summary of the latest content, new data and new features recently added to Shipping Intelligence Network.

A summary of the latest content, new data and new features recently added to Shipping Intelligence Network.

A summary of the latest content, new data and new features recently added to Shipping Intelligence Network.

A summary of the latest content, new data and new features recently added to Shipping Intelligence Network.

A summary of the latest content, new data and new features recently added to Shipping Intelligence Network.