International market turmoil from the direct / indirect imposition of global tariffs and related actions saw a crazy Week 8 wind up in 2026, as freight rates and oil prices both moved
International market turmoil from the direct / indirect imposition of global tariffs and related actions saw a crazy Week 8 wind up in 2026, as freight rates and oil prices both moved up and subsequently down, reports cash buyer GMS.
As oil rose above USD 63/barrel from last week to well over USD 66/barrel this week, it retreated back down to USD 65.93/barrel by week’s end, amid investors and forecasters increasingly weighing the possibility of Trump launching another confounding attack against Iran, says GMS.
“The Baltic Exchange’s Dry Bulk Index, meanwhile, snapped a three-day losing streak by the end of the week and climbed a healthy 1.2% on the back of Capes (which rebounded a healthy 1.7%) and Panamaxes (which rose 1.2%), despite Supras easing by 1 point. All of the above showed a different face in the ship recycling markets, as local anchorages were relatively stacked this week, with a collective 151K LDT via 16 vessels that arrived and were delivered across India, Bangladesh, and Pakistan — a truly welcome change for the industry.”
Prices, meanwhile, seem to be moving up again toward the mid-USD 400s/LDT for select, good-condition vessels, spurred on by a positive election in Bangladesh, an
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