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TONNE-MILE DEMAND

Editorial illustration of a Capesize bulk carrier as a cue ball on a billiards table with commodity-themed balls

The $50,000 Cape is back and owners have the upper hand

The SeaNation team presents data from Xclusiv Shipbrokers, Inc., as Capesize earnings reach five-year highs, Atlantic tonne-mile demand accelerates and strong freight conditions increasingly support secondhand vessel values

Minimalist editorial world map showing evolving global crude shipping routes, with stronger maritime flows from Russia and the Atlantic Basin and weaker routes from parts of the Middle East, plus a small VLCC on calm water against a cream textured background

The geography of oil is changing — and so is global shipping

The SeaNation team presents the latest analysis from Xclusiv Shipbrokers, Inc., highlighting how shifting crude export origins, rather than volumes alone, are reshaping tanker demand, tonne-mile utilisation and global shipping markets