Last week we saw the USA and China agree on a 1 year pause on port fees to be imposed on each other’s linked vessels. This appears to have given renewed positivity to the liner companies and shippers, also with just under 7 weeks until Christmas, the next couple of weeks are the last chance to import goods Ex China to be available pre-Christmas in the States and Europe.

Clean

LR2

MEG LR2s lost steam this week. The TC1 75kt MEG/Japan index dropped a modest 7.78 points to WS132.5, with the corresponding TCE returns falling back below the $30,000/day mark to $29,600/day, basis Baltic description.

Capesize

The Capesize market recorded a notable improvement this week, with momentum building steadily across both basins. After a slow start on Monday, activity gathered pace from Tuesday onward as improved demand and a tightening tonnage list drove gains throughout the week.

Latsco Marine Management Inc. confirms that naval forces arrived on scene earlier today afternoon on Friday, 7th November 2025, and are providing assistance to the HELLAS APHRODITE (IMO: 9722766).

International Seaways, Inc. (NYSE: INSW) (the “Company,” “Seaways,” or “INSW”), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, reported results for the third quarter 2025.

EuroHoldings Ltd. (NASDAQ: EHLD) (“EuroHoldings” or the “Company”) an owner and operator of ocean-going vessels and provider of seaborne transportation, announced that it has signed a Memorandum of