Arctic: Shipping Daily - Tankers, LPG, NVGS, STNG

Research evidence excerpt

Arctic: Shipping Daily - Tankers, LPG, NVGS, STNG

Shipping Daily

18 June 2026 | 14:09

Tankers, LPG, NVGS, STNG

● Tankers: IEA forecasts - "Read'em and smile"

● LPG: Production sliding

● NVGS: Securing financing for two newbuilds

● STNG: Q2 trading update

Tankers: IEA forecasts - "Read'em and smile"

Crude has fallen hard over the past week, down by some USD 17, pricing in a combination of

reduced war risk and a quick resumption of oil flows. From our perspective, the former looks

far more real than the latter. President Trump's push for a deal, calling off of strikes amid Iran

missile attacks, shows he has little appetite for resuming the bombing campaign which destroyed

much Iran infrastructure and military assets but no push towards any regime change. Geopolitical

analysts deciphering the "Islamabad MoU" seem in broad agreement that Iran is getting the better

deal as frozen assets are unlocked and sanctions waived up front of a 30 day process to return

shipping to normal. It is fair to expect that Iranian vessels will be prioritized. As for the tolling system

it is undecided beyond the 60 day negotiation period. With the US ending its blockade and Iran

having the responsibility of clearing the strait, we think it is fair to say that Iran maintains leverage.

Reopening Hormuz will be the next step and the process looks fraught with operational risks which

are hard to assess from a desk in Oslo or anywhere else. Iran will have 30 days to clear mines

and operational safety. We expect that timeline to be met, as we expect the country to have some

control of any obstructions made. Getting vessels out is likely to prove easier than getting vessels

in, a prerequisite to clearing on-land storage and restarting production. We note cautious comments