ClarkSea Index Sets Fifth Consecutive Record as Daily Vessel Earnings Reach $84,951

Source: United Maritime Corp

Earnings across the global commercial fleet continued to climb. According to Clarksons Research, the ClarkSea Index rose 12% in a week to a record $84,951 per day. This marked the fifth consecutive week in which the index reached a new high, as vessel earnings remained elevated but performance varied across segments.

The ClarkSea Index is a composite measure of average daily earnings across the tanker, dry bulk, container and gas carrier segments. It is weighted according to each segment’s share of the fleet, providing a broad indication of operating conditions in the shipping market. According to Clarksons Research, the index covers approximately 80% of global commercial fleet capacity.

The latest reading of $84,951 per day far exceeded the previous peak of $50,714 per day recorded during the shipping industry’s 2007 boom. According to the report, average earnings so far this year are approximately 70% higher than in 2025 and 87% above the average trend for the past decade.

Crude Tankers Lead the Rally as Other Segments Post Mixed Results

Crude tankers were the main driver of the latest increase. During the week in question, average earnings for very large crude carriers (VLCCs) rose 21% to $804,601 per day. Suezmax earnings increased 17% to $724,398 per day, while Aframax earnings surged 46% to $393,951 per day.

By contrast, the dry bulk market recorded weaker results. Capesize earnings fell 16% to $31,130 per day. Average earnings across the dry bulk fleet also declined 3% to $22,319 per day.

In the container segment, the Shanghai Containerized Freight Index (SCFI) reached 3,664 points, up 215% year on year. The SCFI tracks changes in spot container freight rates on the routes it covers; it does not directly measure vessel earnings. It therefore provides an additional perspective on the container freight market but cannot be directly compared with daily vessel earnings expressed in US dollars.

In gas shipping, very large gas carriers (VLGCs) earned $209,000 per day on the US Gulf–Japan route, according to the report. Meanwhile, spot earnings for modern LNG carriers fell 19% to $34,250 per day.

Geopolitical Tensions Continue to Shape Shipping Markets

In a recent report, shipbroker Hartland noted that conflicts in Europe and the Middle East are heightening maritime security risks in the Middle East Gulf, the Red Sea and the Black Sea. Although these risks are affecting vessel operations, ships continue to transport cargo. Rerouting vessels to avoid dangerous areas is also increasing total transport work, measured in ton-miles.

Hartland commented: “Wars in Europe and the Middle East have rendered the Middle East Gulf, Red Sea and Black Sea unsafe for shipping, not that shipping is much deterred. The present boom is universal, transcending shipping sectors, as demand remains robust and ton-miles have been added as ships detour around war zones by taking longer routes home. All shipping sectors have been unwitting beneficiaries of war.”

Shipbroker Affinity also identified the geopolitical environment as one of the factors sustaining the current cycle. According to the company, although the cycle has already lasted at least five to six years, demand for newbuildings remains strong. This is happening as geopolitical factors continue to influence the market, with little indication that tensions will ease in the near term.

Affinity commented: “With this cycle now being well into at least its 5th or 6th year, it might seem the wrong time for newbuilding demand to be so robust. But this cycle is being driven by the geopolitical environment which show no signs of abating…There’s still more life in this party yet.”
 

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Source: Phaata.com (According to Splash247)

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