Fuel and Freight Daily Update - 2/9/26

02/09/2026

All prices reflect end-of-day settlements from February 6th, 2026

Colonial Pipeline Differentials (USGC):

• ULSD 62g (C10): -17.25

• Jet Fuel 54g (C11): -16.00

Clean Tankers:
Clean-product tanker markets remain soft. In the U.S. Gulf and other export hubs, prompt tonnage availability continues to exceed spot cargo demand. While inquiries are present, fixture velocity remains slow and owners are still showing rate flexibility to secure employment. Without a material pickup in export programs, near-term pressure on rates is likely to persist.

Crude Tankers:
Crude freight is stable with a supportive undertone. A portion of VLCC and Suezmax tonnage remains committed to long-haul or extended voyages, limiting effective vessel supply. Spot demand is steady but not aggressive, keeping rates rangebound. Structural tightness continues to provide a floor on key long-haul routes.

LNG Shipping:
LNG freight remains firm. Vessel availability is tight relative to demand, and ongoing winter seasonality continues to absorb prompt tonnage. Longer voyage durations and forward chartering activity are supporting elevated rate levels, with owners maintaining negotiating leverage.

Dry Bulk & General Freight:
Dry-bulk markets are mixed but generally stable in core commodity corridors. Container and general cargo segments remain pressured by excess capacity and uneven global trade flows. Rate momentum remains muted outside of select seasonal lanes.

Overall Outlook:

Freight markets remain bifurcated. Crude and LNG segments continue to benefit from structural constraints and seasonal demand, while clean-product and container markets face persistent headwinds from oversupply and moderate cargo flows. A clearer directional shift will depend on the pace of new cargo programs and broader industrial activity in the coming weeks.