Shipping Daily-05/14/2026

Research evidence excerpt

Shipping Daily-05/14/2026

Shipping Daily

14 MAY 2026

• Spot rates: The drifting goes on for the tanker segments, with most TankerAveragespotof keyratesroutes: YesterdayECO - no scrubberchange % Non-ECOYesterday- nochangescrubber% Scrubberpremium

segments lower yesterday. Decent VLCC activity – and that’s probably VLCC (TD3_C) USD/day $451 200 -0.6% $443 500 -0.7% $2 000

where rates also hold up the best. MRs sliding both East and West, with SuezmaxAframax (TD20) "" $82$67 700600 -0.2%-5.3% $78$58 500400 -0.2%-6.0% $1$800250

initial signs of demand destruction occurring. Drybulk strong, both spot LR2LR1 "" $121$106 300700 -1.6%-0.2% $116$101 400400 -1.7%-0.2% $800$600

and FFA, and very interesting to see how panamaxes have been boosted MR (West) $46 800 -9.5% $41 500 -10.6% $500

by increasing coal volumes recently. VLGCs are still strong in the West. MRMarket(East)indicators: Last 6 days " Last$41 price300 1-day-9.2%ch. Week$36 000ago 1-week-10.4%ch. 1-month$500 ch.

• Tech was back outperforming in the US yesterday, with Nasdaq up 0.6% WTIBrentoiloilpriceprice USD/bbl" $101.3$105.9 0.2%0.2% $100.1$94.8 5.8%6.8% 11.7%10.9%

to another record-high. Focus today on the Trump-Xi summit in Beijing, Oil import data Last 6 months Last data Month ago 1-month ch. Year ago 1-yr ch.

with the market eagerly awaiting signals on a resolution to the US – Iran USChinacrudecrudeoil importsoil imports mill.boe/day" 5.89.4 11.86.5 -10.9%-20.5% 11.75.5 -20.0%4.6%

conflict and then subsequent reopening of Hormuz. Shipping in general OPEC oil production " 20.6 21.0 -2.0% 27.3 -24.8%

out of favour yesterday, with especially the tankers selling off. Oslo Drybulk (VLSFO) 6 Lastdays Yesterday change1-day % Week ago change1-week% change1-month%