Fuel and Freight Daily Update - 12/11/25

12/20/2025

All prices reflect end-of-day settlements from December 10th, 2025

Colonial Pipeline Differentials (USGC):

• ULSD 62g (C71): -15.25

• Jet Fuel 54g (C72): -25.25

Clean Tankers:
Clean-product tanker markets remain soft with little improvement in fundamentals. Tonnage lists in the U.S. Gulf remain long, and fresh export demand has been limited. Many shipowners are continuing to accept discounted rates to stay moving, particularly on shorter-haul routes. Sentiment remains sluggish heading into year-end.

Crude Tankers:
The crude freight space is holding steady. VLCC availability remains constrained due to long-haul commitments and rerouted voyages. This continues to provide a supportive floor for freight rates, even as spot cargo demand stays relatively muted. Aframax and Suezmax rates are more rangebound.

LNG Shipping:
LNG freight remains firm. With cold weather pushing up seasonal demand, charterers continue to secure forward tonnage. Spot availability is tight, and longer voyage durations are keeping ships tied up, supporting strong rates across both the Atlantic and Pacific basins.

Dry Bulk & Containers:
Bulk freight is stable in key grain and ore corridors, but container and general cargo markets continue to face rate pressure. Oversupply of vessels and uneven global trade flows are limiting upward momentum. Some seasonal lift is occurring in select lanes, but overall market tone remains mixed.

Outlook:
Freight markets are diverging — LNG and crude segments are holding firm due to structural and seasonal constraints, while clean product and container freight continue to deal with oversupply and tepid demand. Without a pickup in volumes, rate pressure will likely persist for clean tankers into the end of the month.