Shipping Trade
The United Arab Emirates' decision to leave OPEC is intensifying concerns over global oil supply stability and geopolitical tensions, with markets reacting to the unexpected move.
Shipping & Trade
Shipping & Trade
Routes, tankers, freight, trade flows.
Red Sea/Bab el-Mandeb disruption persisting; majority of Asia-Europe box traffic still diverting via Cape. Capesize firm on Atlantic tightness; clean tanker basin split. Hormuz war-risk premia sticky.
20Total routes
18Fresh data
6Open alerts
Containers (+2.26% WoW)Top mover
Chokepoint disruption
Suez / Red Sea65%
Partial re-routing in effect; container + clean-tanker traffic still diverting via Cape.
Updated 2026-04-20
Bab el-Mandeb58%
Elevated insurance premia; transit levels ~40% of long-run normal.
Updated 2026-04-20
Bosporus / Dardanelles22%
Turkish Straits regulations tightened post-2025; queue days elevated for crude tankers.
Updated 2026-04-19
Strait of Hormuz18%
Heightened war-risk zone designation remains; transits steady.
Updated 2026-04-19
Panama Canal8%
Draft levels fully restored after 2025 drought; transit slots near full capacity.
Updated 2026-04-20
Malacca / Singapore5%
Normal operations. Bunker supply at Singapore well-stocked.
Updated 2026-04-20
Cape of Good Hope (diversion)0%
Primary diversion route out of Suez/Red Sea. Adds 10–14 voyage days vs. direct.
Updated 2026-04-20
Active alerts
SCFI composite published normally; inside weekly cadence window.
scfi weekly cadence window
Suez Canal Authority tariff feed last updated 8 days ago — acceptable but monitoring.
suez tariff feed age > 168h
C5 Baltic value vs FFA-derived model diverges 8.8%; flag for evidence review.
reported gross diverges from modeled by > 8%
Panama toll assumption on USG→China VLCC older than 30 days; refresh recommended.
canal toll assumption age > 30d
Baltic Exchange published methodology note for TC14 — no change to settlement logic.
benchmark status transition
SCFI Shanghai→USWC net -9.6% WoW — transpac spot soft, carriers cutting.
net WoW < -8%
Suez/Red Sea disruption persisting above 0.5 for 84h; Asia-NWE box lane Cape-routed.
suez_red_sea disruption > 0.5 for > 72h
Hormuz elevated war-risk zone designation extended — insurance premia sticky.
hormuz disruption persisting
Routes by family
Dirty Tankers 4
TD3CDirty Tankers
MEG → China VLCC
Ras Tanura → Ningbo · baseline 52d
Strait of Hormuz (1.0)Malacca / Singapore (0.6)
TD20Dirty Tankers
WAF → UKC Suezmax
Bonny → Rotterdam · baseline 32d
No chokepoint exposure
TD22Dirty Tankers
USG → China VLCC
Houston → Qingdao · baseline 68d
Panama Canal (0.3)Cape of Good Hope (diversion) (0.2)
TD15Dirty Tankers
West Africa → China Suezmax
Malongo → Ningbo · baseline 48d
Cape of Good Hope (diversion) (0.5)Suez / Red Sea (0.3)
Clean Tankers 5
TC2Clean Tankers
UKC → USAC MR
Amsterdam → New York · baseline 22d
No chokepoint exposure
TC14Clean Tankers
USG → UKC MR
Houston → Amsterdam · baseline 24d
No chokepoint exposure
TC5Clean Tankers
MEG → Japan LR1
Ruwais → Chiba · baseline 36d
Strait of Hormuz (1.0)
TC17Clean Tankers
MEG → East Africa LR1 (clean)
Jebel Ali → Mombasa · baseline 28d
Strait of Hormuz (1.0)Bab el-Mandeb (0.6)
TC-MR-EASTClean Tankers
MEG → UKC MR (via Suez when possible)
Jubail → Amsterdam · baseline 45d
Strait of Hormuz (0.9)Suez / Red Sea (0.6)Bab el-Mandeb (0.6)
Capesize (Dry Bulk) 5
C5Capesize (Dry Bulk)
W Aus → Qingdao Capesize
Port Hedland → Qingdao · baseline 22d
No chokepoint exposure
C3Capesize (Dry Bulk)
Tubarao → Qingdao Capesize
Tubarao → Qingdao · baseline 45d
Cape of Good Hope (diversion) (0.3)
C14Capesize (Dry Bulk)
China–Brazil round
Qingdao → Tubarao → Qingdao · baseline 88d
No chokepoint exposure
C10Capesize (Dry Bulk)
Pacific round voyage
Qingdao → Port Hedland → Qingdao · baseline 42d
No chokepoint exposure
C7Capesize (Dry Bulk)
Bolivar → Rotterdam Capesize
Bolivar → Rotterdam · baseline 34d
No chokepoint exposure
Containers 3
SCFI-SHA-NWEContainers
Shanghai → NWE containers
Shanghai → Rotterdam · baseline 36d
Suez / Red Sea (0.7)Bab el-Mandeb (0.7)Malacca / Singapore (0.8)
SCFI-SHA-MEDContainers
Shanghai → Mediterranean containers
Shanghai → Genoa · baseline 34d
Suez / Red Sea (0.8)Bab el-Mandeb (0.7)
SCFI-SHA-USWContainers
Shanghai → USWC containers
Shanghai → Long Beach · baseline 18d
Malacca / Singapore (0.0)
LNG 3
BLTG-MEG-JKMLNG
MEG → JKM 174k cbm LNG
Ras Laffan → Futtsu · baseline 34d
Strait of Hormuz (1.0)Malacca / Singapore (0.7)
LNG-USG-JKMLNG
USG → JKM 174k cbm LNG
Sabine Pass → Futtsu · baseline 42d
Panama Canal (0.5)Suez / Red Sea (0.3)
LNG-USG-NWELNG
USG → NWE 174k cbm LNG
Sabine Pass → Zeebrugge · baseline 20d
No chokepoint exposure
Latest coverage
Shipping Trade
The United Arab Emirates' decision to leave OPEC is intensifying concerns over production coordination and geopolitical stability, with energy markets reacting to the shift.
Shipping Trade
The United Arab Emirates has announced its decision to leave the Organization of the Petroleum Exporting Countries (OPEC), a move that comes amid rising tensions in the Gulf and ongoing disruptions to key shipping routes.
Shipping Trade
The United Arab Emirates' decision to leave OPEC could weaken the cartel's influence and impact crude prices, with markets reacting to the geopolitical and production shift.
Shipping Trade
The United Arab Emirates' decision to leave OPEC is intensifying concerns over global energy supply stability and trade route security, with markets reacting to the shift in production strategy.
Shipping Trade
The proposal comes amid renewed diplomatic efforts between the two nations, including planned talks in Pakistan, as shipping risk in the region remains a focal point for markets.
Shipping Trade
The move is expected to heighten market sensitivity to oil supply dynamics and geopolitical tensions in key shipping corridors.
Energy
The diplomatic engagement comes as tensions persist between Iran and the US, with ongoing geopolitical implications for global markets.
Shipping Trade
The development adds to ongoing shipping risk and geopolitical pressure on trade routes, with markets closely monitoring the implications for global trade flows.
Shipping Trade
The proposal comes amid ongoing geopolitical tensions and shipping disruptions in the critical trade route.
Shipping Trade
The renewed diplomatic efforts come amid over trade route security and potential disruptions in the Strait of Hormuz, which has already impacted energy and shipping markets.
Shipping Trade
The move aims to disrupt Iran's key revenue stream by targeting entities involved in transporting its oil.
Shipping Trade
Geopolitical tensions between the U.S. and Iran are prolonging shipping disruptions, keeping tanker traffic at low levels and weighing on.