Fuel and Freight Daily Update - 12/16/25

12/19/2025

All prices reflect end-of-day settlements from December 15th, 2025

Colonial Pipeline Differentials (USGC):

• ULSD 62g (C72): -15.50

• Jet Fuel 54g (C72): -28.00

Freight Market Summary

Clean Tankers:
Clean-product tanker markets remain soft as year-end inactivity continues to weigh on demand. Tonnage lists in the U.S. Gulf and other export regions remain long, with limited fresh cargoes emerging. Owners are still competing aggressively on rates to keep vessels moving, and sentiment remains subdued heading into the final stretch of the year.

Crude Tankers:
Crude freight is steady with underlying support. A significant portion of VLCC and Suezmax tonnage remains tied up on long-haul or extended voyages, keeping effective supply constrained. While spot demand is muted, this structural tightness continues to underpin rate floors across key long-haul routes.

LNG Shipping:
LNG freight remains firm. Winter demand continues to absorb vessel availability, particularly in the Atlantic Basin. Longer voyage durations and forward chartering are keeping ships committed, allowing owners to maintain pricing leverage despite seasonal volatility.

Dry Bulk & General Freight:
Dry-bulk markets are mixed but stable in core commodity corridors. Container and general cargo segments continue to face pressure from excess capacity and uneven trade flows. Seasonal support remains limited and highly route-specific.

Overall Outlook:
The market remains bifurcated. Crude and LNG shipping are supported by structural and seasonal factors, while clean-product and container freight continue to struggle with oversupply and weak demand. With year-end slowdown firmly in place, any meaningful recovery in softer segments is likely deferred until post-holiday activity resumes.