Fuel and Freight Daily Update - 12/2/25

12/20/2025

All prices reflect end-of-day settlements from December 1st, 2025

Colonial Pipeline Differentials (USGC):

• ULSD 62g (C68): -16.25

• Jet Fuel 54g (C69): -27.00

• Clean Tankers
  The clean‑product tanker market remains under pressure. In the U.S. Gulf and other clean‑export hubs, prompt tonnage continues to outnumber demand. Export flows remain patchy, and owners are still offering competitive or discounted rates to try to secure stems. With limited fresh cargo interest entering December, the near‑term tone remains soft.

• Crude Tankers
  Crude freight remains structurally supported. Many VLCCs and other large crude carriers continue to be tied up on long‑haul routes, sometimes taking extended detours to accommodate risk‑avoidance, which tightens global available capacity. That underpins a stable rate floor on long‑haul crude voyages, even as incremental demand for fresh fixtures remains moderate.

• LNG Shipping
  The LNG freight market remains firm. Across the Atlantic Basin and major LNG corridors, vessel availability stays constrained and voyage durations have lengthened due to winter demand and seasonal routing inefficiencies. Charterers are booking forward cargoes for winter, sustaining tightness and favorable rates for owners.

• Overall Outlook
  The split in freight segments continues: crude and LNG shipping remain underpinned by structural supply constraints and favorable seasonal demand, while clean‑product tanker freight continues to struggle under oversupply and soft demand. Without a surge in export volumes or new cargo demand, clean tanker rates are likely to remain under pressure into early December.