Fuel and Freight Daily Update - 1/6/26

01/08/2026

All prices reflect end-of-day settlements from January 5th, 2026

Colonial Pipeline Differentials (USGC):

• ULSD 62g (C04): -9.90

• Jet Fuel 54g (C04): -22.00

Freight markets continue to ease back into post-holiday trading, with activity gradually improving but fundamentals largely unchanged from the start of the year.

Clean Tankers:
Clean-product tanker markets remain soft. In the U.S. Gulf and other key export hubs, prompt tonnage availability is still elevated relative to cargo demand. While inquiries are slowly returning after the holidays, volumes remain insufficient to meaningfully tighten lists. Owners continue to compete on rates to secure early-January stems, and sentiment remains cautious in the near term.

Crude Tankers:
Crude freight is steady with a supportive undertone. A portion of VLCC and Suezmax tonnage remains tied up on long-haul or extended voyages, limiting effective supply. Although fixture activity is still building back gradually, these structural constraints continue to underpin rate floors on major long-haul routes.

LNG Shipping:
LNG freight remains firm. Winter demand continues to absorb vessel availability, particularly in the Atlantic Basin, and voyage durations remain extended. Charterers are active securing both prompt and forward cover, allowing owners to maintain pricing leverage despite the still-thin liquidity typical of early January.

Dry Bulk & General Freight:
Dry-bulk and container markets are reopening slowly. Some bulk commodity flows are resuming, but overall demand remains uneven. Container and general cargo segments continue to face excess capacity, keeping rate momentum muted across most lanes.

Overall Outlook:
Early-January freight markets remain bifurcated. Crude and LNG segments continue to benefit from structural tightness and seasonal support, while clean-product tankers and container freight remain pressured by oversupply and sluggish demand. A clearer directional shift will likely depend on the pace at which post-holiday cargo programs and industrial activity normalize in the weeks ahead.