Fuel and Freight Daily Update - 2/11/26

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02/11/2026

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

Colonial Pipeline Differentials (USGC):

• ULSD 62g (C11): -19.25

• Jet Fuel 54g (C11): -16.50

Clean Tankers:
Clean-product tanker markets continue to face headwinds. In the U.S. Gulf and other primary export hubs, prompt tonnage remains readily available relative to spot cargo demand. While inquiry levels are consistent, fixture activity has not accelerated enough to meaningfully tighten vessel lists. Owners remain competitive on rates, particularly for shorter-haul movements, keeping overall sentiment cautious.

Crude Tankers:
Crude freight remains stable with a firm undertone. A portion of VLCC and Suezmax fleets continues to be tied up on long-haul voyages, limiting effective supply. Spot demand is steady but not aggressive, resulting in a balanced market where structural tightness supports rate floors without generating strong upside momentum.

LNG Shipping:
LNG freight remains supported by seasonal fundamentals. Vessel availability is comparatively tight in key basins, and longer voyage durations continue to absorb tonnage. Charterers remain active in securing both prompt and forward coverage, allowing owners to maintain leverage in negotiations.

Dry Bulk & General Freight:
Dry-bulk markets are mixed but stable across core commodity routes. Some grain and ore corridors show consistent movement, though broader rate momentum remains modest. Container and general cargo segments continue to contend with elevated capacity and uneven global trade flows, limiting sustained rate recovery.

Overall Outlook:

Freight markets remain bifurcated. Crude and LNG sectors are supported by structural and seasonal factors, while clean-product and container segments continue to manage oversupply and moderate demand. Near-term direction will likely hinge on whether export volumes and industrial activity begin to strengthen in the coming weeks.

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