Global trade under siege
Global trade under siege
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International Shipping News
18/04/2026
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esterday’s global trade landscape is increasingly being defined by the shadows of war, with the number of active conflicts reaching levels not seen since the end of World War II.
While the human toll is the most devastating consequence, analysis from the International Monetary Fund’s latest World Economic Outlook warns that the macroeconomic and trade-related fallout could be both profound and persistent. Data from the report connects the dots between modern warfare and the dismantling of export capacity, destabilising the external sector, and creating damaging spillovers for trading partners.
At the heart of the current crisis is the rapid deterioration of a nation’s ability to participate in the global marketplace once hostilities begin. According to the IMF’s Outlook, the trade balance of conflict-site economies typically suffers a sharp blow.
Europe and Asia’s response to 60% Middle East crude export collapse reshapes global energy trade
Europe and Asia’s response to 60% Middle East crude export collapse reshapes global energy trade
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Freight News
18/04/2026
Middle East crude exports collapsed nearly 60% between early February and early March 2026, falling from 18.7 million barrels per day (bpd) to 5.9 million bpd as the Strait of Hormuz faced paralysis, according to Wood Mackenzie’s VesselTracker. This disruption has triggered an unprecedented global energy realignment, with Europe importing record North American crude and refined products while simultaneously exporting surplus gasoline and fuel oil (FO) to Asia.
“This is not a temporary disruption but a structural shift in global energy flows,” said Javier Solis, Analyst at Wood Mackenzie – Maritime Team. “Europe’s diesel deficit and gasoline surplus, combined with Asia’s role as the balancing valve, represent a moving landscape in which pricing and flows remain tightly linked to political decisions rather than purely commercial signals.”
Dual chokepoint paralysis f
Panamax Supply Outlook as Hormuz Faces Strain
Panamax Supply Outlook as Hormuz Faces Strain
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International Shipping News
18/04/2026
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he ongoing uncertainty surrounding the Strait of Hormuz is impacting the Panamax dry bulk segment. According to recent media reports, a potential two-week extension to ceasefire discussions is under consideration, although this remains unconfirmed at the official level.
In this context, Signal Ocean data show that the number of Panamax vessels in ballast condition within the Strait has remained stable at around 30 (as shown in the chart below), while laden vessel counts have declined sharply from late-February highs. This divergence points to emerging delays in loading or transit for vessels operating in the region amid ongoing disruptions.
Scheduled Vessel Deliveries Highest since 2014
Panamax vessel deliveries are projected to reach a record high in 2026, with approximately 15 million dwt of new capacity entering the market, up from roughly 10–11 million dwt in the prior year.
India’s oil and gas crisis is a wake-up call for transport electrification
India’s oil and gas crisis is a wake-up call for transport electrification
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Oil & Companies News
18/04/2026
The conflict in West Asia has once again exposed India’s vulnerability in securing oil and gas supplies. As the world’s third-largest crude oil consumer, India imports nearly 85% of its crude, and prior to the US-Iran war, 45% of those imports transited the Strait of Hormuz. When that chokepoint closed, the consequences were immediate.
A swift, multi-pronged government response helped cushion the worst immediate effects, but it also exposed how much further India needs to go.
Tanker Market Reached Record Levels in March
Tanker Market Reached Record Levels in March
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Hellenic Shipping News
18/04/2026
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ast month proved to be a record one for the tanker market. In its latest monthly report, OPEC said that in March, trade disruptions and moves to source alternative crude supplies pushed dirty tanker spot freight rates to record levels. On the West Africa-to-East route, VLCC spot freight rates rose 34%, m-o-m.
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