Global shipping revenues reached $84,951 per day last week, marking a 12% increase compared to the previous week. This new record has been set as the ClarkSea index, a general barometer of shipping revenues, has reached its highest level in history.
Growth in Tanker Revenues
The increase in tanker revenues is particularly evident during this period. The average revenue for VLCC (Very Large Crude Carrier) ships last week reached $804,601 per day, indicating a 21% increase. Additionally, Suezmax ships saw a 17% increase to $724,398 per day, while Aframax ships experienced a significant 46% increase to $393,951 per day.
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Impact of Wars on Shipping
Analysts in their reports point to the impacts of wars in Europe and the Middle East on the shipping situation. These wars have made the Gulf, Red Sea, and Black Sea unsafe for shipping; however, demand for maritime transport remains strong. By rerouting ships away from conflict zones, the industry has capitalized on these conditions.
While revenues for dry bulk ships have decreased and revenues for Capesize ships have fallen to $31,130 per day, the container sector has remained exceptionally resilient, with the Shanghai container freight index reaching 3,664 units, a 215% increase compared to last year.
Analysts noted in their reports that this shipping cycle is progressing well due to strong geopolitical conditions and is expected to continue. They also pointed out that demand for new shipbuilding remains high despite the prolonged cycle, indicating that the industry still holds significant potential.
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