Tanker fleet growth remains the key theme at the start of 2026, with deliveries continuing to outpace removals and keeping net expansion positive.
The orderbook remains moderate relative to the active fleet but still large enough to influence supply growth through the next two years, while fleet concentration remains strongest in MR, Aframax and LR2. Ageing remains visible, with a notable share of capacity in vessels aged 20 years and above, especially in MR, Aframax, LR2 and Suezmax, while VLCC appears relatively younger.
Mid size segments remain the main source of fleet depth and growth, while larger crude segments add fewer ships by count but a more significant dwt impact. Demolition remains limited versus deliveries, with scrapping concentrated mainly in smaller and mid size vessels, while Panamax and LR1 are the only segments showing slight net contraction.
Dry Bulk Analysis – Week 08 2026
Capesize average earnings fell to $30,510/day, with the BCI down 4.0% w o w to 3,051. Panamax average earnings rose to $16,540/day, with the BPI up 3.4% w o w to 1,838. Supramax average earnings fell to $12,790/day, with the BSI down 2.3% w o w to 1,159. Handysize average earnings rose to $12,770/day, with the BHI up 4.3% w o w to 709.
Dry Atlantic Analysis – Week 08 2026
Capesize Atlantic enquiry improved into the close, with C3 (South Brazil/China) at $23.855/ton, including an 183,000 dwt Tubarao to Qingdao fixed at $23.80/ton.
Panamax sentiment steadied with prompt transatlantic enquiry measured and vessel supply broadly balanced, including an 80,000 dwt fixed from Las Palmas for redelivery Amsterdam Cartagena at $17,000/day via North and South America.
Supramax conditions were mixed across the Continent, Mediterranean and South Atlantic, while the US Gulf remained under pressure from prompt tonnage, including a 58,600 dwt fixed delivery SW Pass to East Mediterranean at $22,000/day with grains.
Handysize Atlantic demand supported a firmer close, including a 31,000 dwt fixed dop SW Pass to Puerto Cabello at $22,500/day.
Dry Pacific Analysis – Week 08 2026
Capesize miner activity improved into the close and helped rates recover modestly, with C5 (West Australia/China) at $9.367/ton, including a 180,000 dwt Dampier to Qingdao fixed at $9.30/ton.
Panamax fundamentals remained firm through the holiday period with tight prompt tonnage and steady Australia and NoPac loading, including an 82,000 dwt fixed from Tsuruga for a NoPac round with coal at $18,500/day.
Supramax activity remained subdued due to holidays and limited trading interest, including a 52,900 dwt fixed delivery Mina Saqr with redelivery West Coast India at around $11,000/day.
Handysize looked more balanced but remained under rate pressure, including a 32,000 dwt open Otranto fixed basis arrival pilot station Sfax for a salt trip to the Continent at around $10,000/day.
Wet Atlantic Analysis – Week 08 2026
VLCC trading stayed firm, with TD15 (WAF/China) at $137,000/day as active enquiry and tighter positioning supported owners into the close.
Suezmax Atlantic routes stayed firm, with TD20 (WAF/Cont) at $74,400/day and TD27 (Guyana/UKC) at $73,600/day.
Aframax Atlantic routes softened, with TD25 (USG/Cont) at $76,500/day and TD26 (EC Mex/USG) at $102,200/day, while TD19 (Med/Med) firmed to $96,400/day.
LR Atlantic returns weakened, with LR2 TC20 (ME Gulf/UKC) at $31,300/day.
MR Atlantic routes weighed on the weekly picture, with TC2 (Cont/USAC) at $42,800/day and TC21 (USG/Caribs) at $52,100/day.
Wet Pacific Analysis – Week 08 2026
VLCC Pacific eastbound rates stayed firm, with TD3C (ME Gulf/China) at $157,000/day and the strongest support among the main crude routes.
Suezmax Pacific sentiment remained supported by broader crude strength, with owners maintaining a firm stance as prompt replacement options stayed tighter.
LR Pacific routes provided support, with LR2 TC1 (ME Gulf/Japan) at $36,800/day and LR1 TC5 (ME Gulf/Japan) at $28,200/day.
MR Pacific softened, with TC7 (Singapore/ECA) at $21,500/day.
Over the past twelve months, Greek interests led secondhand selling with 303 vessels across sectors, versus 139 sales by Chinese sellers. Greek sales were led by 149 dry bulk and 106 tankers, plus 38 containers and 4 gas carriers, while Chinese sales comprised 85 dry bulk, 36 tankers, 10 containers and 5 gas carriers. On the buying side, China ranked first with 230 purchases and Greece followed with 194, with Chinese buying led by 167 dry bulk and 48 tankers, while Greek buying was led by 112 dry bulk and 58 tankers, plus 18 containers.
Get the Full Allied Weekly Market Report – Week 08 (February 2026)
This post provides a high-level overview of tanker fleet composition trends and current freight market performance across dry bulk and tanker segments.
The full Allied QuantumSea Weekly Market Report – Week 08 includes:
· Detailed tanker fleet composition analysis by segment and age profile
· Orderbook intensity and supply growth outlook by vessel class
· Demolition versus delivery trends and net fleet development
· Full dry bulk and tanker earnings tables across all segments
· Atlantic & Pacific route-level freight breakdowns with benchmark comparisons
· Baltic indices, TCE calculations & historical trend charts
· Secondhand S&P transactions, buyer–seller positioning & asset value trends
· Recycling activity and scrap pricing indicators
👉 Fill in the form below to subscribe and receive the complete PDF directly in your inbox every week.