S&P and Newbuilding Weekly 17 July 2026

The tanker market has experienced a slight uptick in activity this week amid continued geopolitical instability, particularly in the Gulf and Black Sea regions. Reports indicate a modest increase in second-hand transactions, with notable sales such as the Suezmax MT 'GH HOLIDAY' sold for approximately USD 81 million. Despite market fluctuations, owners remain confident in pricing. Meanwhile, the dry bulk sector is witnessing subdued transactions, with limited sales during the summer lull; however, the recent sale of the Capesize MV 'AASHNA' for USD 37.5 million reflects ongoing strength in asset values. Political tensions in regions like the Black Sea are significantly impacting trade flows, leading to price volatility in grain markets, following reports of escalating attacks on Russian vessels by Ukraine. This backdrop underscores the importance of maintaining robust shipping rates despite fluctuating supply and demand fundamentals.