Fuel and Freight Daily Update - 2/10/26

02/11/2026

All prices reflect end-of-day settlements from February 9th, 2026

Colonial Pipeline Differentials (USGC):

• ULSD 62g (C10): -19.50

• Jet Fuel 54g (C11): -16.50

Clean Tankers:
Clean-product tanker markets continue to face pressure. In the U.S. Gulf and other key export regions, prompt vessel availability still exceeds spot cargo demand. While inquiries are active, fixture velocity remains modest and owners are competing aggressively on rates to secure employment. Until export programs meaningfully expand, rate upside appears limited in the near term.

Crude Tankers:
Crude freight remains stable with an underlying supportive tone. A portion of VLCC and Suezmax tonnage remains committed to long-haul or extended voyages, tightening effective vessel supply. Spot demand is steady but not aggressive, keeping rates rangebound while structural supply constraints maintain a firm floor on major routes.

LNG Shipping:
LNG freight continues to hold firm. Winter demand remains supportive, particularly in the Atlantic Basin, where vessel availability is comparatively tight. Longer voyage durations and forward chartering activity are sustaining elevated rate levels, with owners maintaining leverage in negotiations.

Dry Bulk & General Freight:
Dry-bulk markets are mixed but generally stable across core commodity lanes. Grain and ore flows remain active in select corridors, though broader rate momentum is modest. Container and general cargo segments continue to contend with excess capacity and uneven global trade flows, limiting sustained upside.

Overall Outlook:

Freight markets remain bifurcated. Crude and LNG segments are supported by structural and seasonal factors, while clean-product and container markets continue to grapple with oversupply and measured cargo activity. A more decisive shift in tone will likely depend on the pace of export growth and broader industrial demand trends in the weeks ahead.