Exxon, Chevron Beat Profit Estimates on War-Driven Oil Rally
Jonathan Weiss / Shutterstock.com
Exxon, Chevron Beat Profit Estimates on War-Driven Oil Rally
Bloomberg
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May 1, 2026
By Kevin Crowley (Bloomberg) —
Exxon
Mobil Corp. posted stronger-than-expected earnings for the first quarter as higher oil and natural gas prices outweighed production outages from the Iran war.
Surging energy prices boosted Exxon’s first-quarter earnings by $1.7 billion, more than offsetting a $400 million blow from war-related production outages, the company said Friday. Roughly 15% of Exxon’s worldwide output remains offline, Chief Financial Officer Neil Hansen said in an interview.
Although Chevron is less exposed to Middle East disruptions, production dipped roughly 5% on a sequential basis.
Mitsui O.S.K. Lines Sees Firming Market Conditions in Dry Bulk
Lines Sees Firming Market Conditions in Dry Bulk
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Dry Bulk Market
,
International Shipping News
01/05/2026
In the crude oil tanker market, conditions remained firm in the first half of the fiscal year, as in the previous fiscal year. From September onwards, the vessel supply-demand balance tightened due to an increase in cargo volumes following the unwinding of voluntary production cuts by OPEC+ nations, and market conditions remained at high levels.
In the product tanker market, conditions remained firm, underpinned by the strengthening of Middle East tensions and Russia-related sanctions, which supported market conditions for large vessels.
In the LPG carrier market, U.S. Trade Representative (USTR) port fee measures and U.S.-China tariff issues complicated trade patterns, resulting in increased ton-miles in terms of both sailing distance and transport volume, tightening the vessel supply-demand balance.
Shipping Interrupted: Tracking the Impact of Disruptions in the Strait of Hormuz
Shipping Interrupted: Tracking the Impact of Disruptions in the Strait of Hormuz
in
International Shipping News
01/05/2026
W
hile the situation in the Middle East remains uncertain amid stalled peace talks and the continued closure of the Strait of Hormuz, the dry bulk segment is still largely unscathed. Spot freight rates remain solid across all dry bulk segments, and the ongoing ceasefire has breathed new life into the bulker market.
The coal trades in particular may benefit from the closure of the strait. Scarcity and elevated prices in oil and gas markets will likely lead to coal switching, with countries seeking to increase coal consumption to reduce pressure on energy prices.
Hormuz disruption shows why early-warning data matters
Hormuz disruption shows why early-warning data matters
in
International Shipping News
01/05/2026
New UNCTAD dashboard tracks risks across shipping, energy, food and finance as shocks from the Strait of Hormuz spread through the global economy.
What began as a shipping disruption in one of the world’s most critical maritime chokepoints has become a wider development risk.
Since early March, UN Trade and Development (UNCTAD) has alerted that disruptions in the Strait of Hormuz are hitting far more than energy markets. The Strait carries around one quarter of global seaborne oil trade, as well as significant volumes of liquefied natural gas and fertilizers – goods that feed directly into transport costs, food production and inflation.
Ripple effects hit hard
The disruption deepened rapidly. Ship transits through the Strait fell by about 95%, while oil and gas prices, tanker freight rates, marine fuel costs and war-risk insurance premiums rose sharply.
Demand for Low-Carbon Shipping Has Fallen, but Long-Term Value Persists
Demand for Low-Carbon Shipping Has Fallen, but Long-Term Value Persists
in
International Shipping News
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Shipping: Emission Possible
01/05/2026
C
argo owners’ willingness to pay (WTP) a premium for low-carbon fuels is crucial to maritime sector decarbonization. But this year, the results of BCG’s annual Shipping Decarbonization Survey reveal a marked drop in WTP, from 4.5% in 2024 to 3% in 2025, a level not seen since 2022. (See Exhibit 1.) This lower WTP, combined with cost pressures and continued regulatory uncertainty, means that carriers that wish to capture low-carbon value must seek pockets of demand while focusing ever more closely on economics and customer-centricity.
Dry Bulk Carriers Repricing Hard to Explain, But Still Evident
Dry Bulk Carriers Repricing Hard to Explain, But Still Evident
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Dry Bulk Market
,
Hellenic Shipping News
01/05/2026
D
ry bulker prices have been on an uptrend for a number of months, despite the fact that earnings have remained mostly flat during this period. In its latest weekly report, shipbroker Xclusiv said that “the period spanning late February to late April 2026 has delivered a market narrative defined by divergence, resilience, and most notably, a structural repricing of dry bulk assets that has moved well ahead of the freight rate dynamics that would traditionally justify it”.
According to Xclusiv, “Capesize absorbed the initial shock of the US-Iran military confrontation with a sharp but short-lived correction. From $24,211/day on 27 February, the Baltic C5TC fell to a period low of $19,188/day by 10 March as geopolitical uncertainty prompted owners and charterers alike to adopt a cautious posture.
UAE’s exit rattles OPEC’s grip on the oil market
UAE’s exit rattles OPEC’s grip on the oil market
in
Oil & Companies News
01/05/2026
The UAE’s exit from OPEC is momentous, and undoubtedly the biggest schism in the organisation since it was founded in 1960. The UAE, a member since 1967, has risen by developing its vast resources to become OPEC’s second-largest producer by liquids capacity today. Our Macro Oils and Upstream experts, Alan Gelder, Douglas Thyne, Hazel Seftor, Alexandre Araman and Dalia Salem analyse why it’s happened and the implications for the oil market.
Political tensions have been ramping up for many years
Underlying the decision to leave OPEC are political tensions between Saudi Arabia and the UAE that have been steadily building in recent years.
Danish shipowners flag concern over Middle East crisis
Danish shipowners flag concern over Middle East crisis
in
International Shipping News
01/05/2026
Chief executives of major Danish shipping companies have expressed concerns over inflated costs of shipping due to the ongoing geopolitical turmoil in the Middle East.
The US-Israel conflict with Iran that began earlier this year has caused substantial disruption to the global maritime industry, as well as energy flows through major shipping conduits like the Strait of Hormuz in the Persian Gulf.
The escalation into a full-scale conflict has prompted shipping companies to expect market conditions to worsen over the course of the year, according to market analysts.
In a survey conducted by Danish Shipping, majority member companies assessed that overall market conditions in the shipping industry will deteriorate over the next 12 months.
“Market conditions in the shipping industry are more challenging today than they were 12 months ago. The outlook ahead is also worrying,” Danish Shipping sai
World Container Index Keeps Trending Lower
World Container Index Keeps Trending Lower
in
International Shipping News
01/05/2026
The Drewry World Container Index (WCI) declined for the third consecutive week, easing 1% to $2,216 per 40ft container, due to softer rates on Asia–Europe, Transpacific and Transatlantic trade routes. Despite elevated fuel costs and ongoing geopolitical risks, rates remain under sustained downward pressure due to excess capacity and low demand.
Spot rates on the Asia–Europe trade route continued to soften this week, reflecting the ongoing supply–demand imbalance. Rates from Shanghai to Genoa and Rotterdam fell 1% to $3,039 and $2,127 per 40ft container, respectively.
ONE Profit Plunges 92% as Geopolitics and Overcapacity Squeeze Earnings
An Ocean Network Express (ONE) containership at the Port of Oakland. Credit: Sheila Fitzgerald / Shutterstock.com
ONE Profit Plunges 92% as Geopolitics and Overcapacity Squeeze Earnings
Mike Schuler
Total Views: 0
April 30, 2026
Singapore-based liner giant
Ocean Network Express
reported a modest but resilient profit for fiscal year 2025, navigating weak cargo demand, rising capacity, and mounting geopolitical disruption across key trade lanes.
The company posted full-year revenue of $16.6 billion and net profit of $338 million for the period ending March 2026, down 14% and 92% compared to the previous year, respectively. Fourth-quarter revenue reached $4.04 billion, with profit of $55 million, a 82% drop yoy, as rates showed a late recovery despite sluggish cargo volumes.
CEO Jeremy Nixon credited disciplined cost control and operational efficiency for keeping the carrier in the black amid what he described as a “complex and volatile global environment.”
“Despite heightened volatility