Fuel and Freight Daily Update - 2/12/26

02/12/2026

All prices reflect end-of-day settlements from February 11th, 2026

Colonial Pipeline Differentials (USGC):

• ULSD 62g (C11): -17.00

• Jet Fuel 54g (C12): -20.75

Clean Tankers:
Clean-product tanker markets continue to feel pressure from ample prompt tonnage. In the U.S. Gulf and other major export regions, vessel availability still outweighs spot cargo demand. While there are pockets of inquiry, fixture volume remains light, forcing owners to stay competitive on rates to secure employment. Sentiment remains soft in the near term.

Crude Tankers:
Crude freight is steady with a supportive undertone. VLCC and Suezmax availability remains somewhat constrained due to ongoing long-haul and extended voyages. Spot demand is present but measured, keeping rates largely stable while maintaining downside protection from structural supply tightness.

LNG Shipping:
LNG freight remains firm. Seasonal winter demand continues to absorb vessel supply, particularly in the Atlantic Basin. Charterers are maintaining forward coverage, and longer voyage durations are keeping ships committed, allowing owners to hold pricing leverage.

Dry Bulk & General Freight:
Dry-bulk markets are mixed but stable across key commodity lanes. Iron ore and grain flows remain active enough to support baseline demand, though rate upside is limited. Container and general cargo markets continue to face excess capacity and uneven trade flows, capping broader freight strength.

Overall Outlook:

The freight market remains split. Crude and LNG shipping continue to benefit from structural and seasonal support, while clean-product and container segments work through oversupply and subdued cargo programs. A clearer directional shift will depend on stronger export activity and improved global trade flows in the weeks ahead.