Arctic: Shipping Daily - Tankers, Car carriers, LPG

Research evidence excerpt

Arctic: Shipping Daily - Tankers, Car carriers, LPG

Shipping Daily

11 June 2026 | 08:11

Tankers, Car carriers, LPG

● Tankers: VLs firming again. Traders take notice

● Car carriers (sector report): The upcycle has returned

● LPG: Exports still strong, rates supported by healthy ARB

Tankers: VLs firming again. Traders take notice

Iran media is reporting that Hormuz now is "fully closed", citing sources within the top military

command. This is likely to have a negative supply impact, at the margin, as the increase in export

"leakage", reported over the last couple of weeks, now may fade. While rate movements remain

modest, there are subtle signs of the VL market firming up. Brokers report a finely balanced

spot situation amid tightening tonnage lists. Whether this is due to traders securing vessels in

anticipation of a Hormuz reopening or whether it reflects China charterers starting to emerge from

hibernation is too early to tell, but it should not be ignored. While the EIA data showed crude

exports dipping back below the 5 mbd mark, its monthly update Tuesday, helped support a bullish

stance. The agency sees global oil demand in '27 rebounding by a strong +2.5 mbd and it expects

production to surge with an all-time high y-o-y gain of +10 mbd.

Car carriers (sector report): The upcycle has returned

The 6,500 CEU one-year time charter has recovered to USD 65k/d, up 41% from the Sept–Dec

trough of USD 42.5k/d, yet consensus still assumes a drift toward normalisation. We believe that

is wrong. With Chinese exports accelerating and High & Heavy demand turning, earnings risk is

skewed to the upside. We lift our recommendations to Buy. China is the demand engine. Light-

vehicle exports are running +70% YTD (784k units in May alone, NEVs now 54% of the mix),