Clarksons Research have released their latest annual review of shipping markets, including full year 2025 data points, tracking key developments across a year of building complexity from geo-political dynamics for the shipping industry. Summarising the annual review, Steve Gordon, Global Head of Clarksons Research, commented:

“Despite material geo-political complexities and uncertainties impacting global supply chains across 2025, shipping markets have seen a strong second-half earnings environment, generally resilient trade volumes and improved sentiment, transactional activity and pricing during the final quarters of the year. Key data points include:

• Cross segment ClarkSea Index up 7% y-o-y to $26,836/day, with improved tanker, gas and bulker markets in second-half
• Seaborne trade resilient despite disruptive impact of tariffs, growth of 1.1% to 12.9bn tonnes plus stronger second-half volumes
• Red Sea re-routing and “long haul” Russian oil flows remaining supportive of tonne miles for the moment
• Accelerated sanctions regime creating increasing complexity in tanker markets
• Newbuild ordering down 27% y-o-y but with strong Q4, China taking 63% of orders, shipyard output up 6% y-o-y
• Decarbonisation consensus “stalled” but investments in green technology continue
• Geo-political dynamics and uncertainties to continue to impact in 2026 alongside specific market sector fundamentals”

See below additional analysis

2025 Annual Shipping Review