The ClarkSea Index rose 61% year on year to $38,717 per day in the first half of 2026, as disruption around the Strait of Hormuz tightened vessel supply and supported earnings across the main shipping sectors, according to Clarksons Research.
Transits through the Strait of Hormuz, a route linked to 20% of global oil supply, fell 95% from March. Lower cargo volumes in oil, gas, chemicals and fertiliser were offset by replacement volumes, longer voyages, vessels delayed inside and outside the Gulf, repositioning inefficiencies and alternative energy exports. The index was also 31% higher than in the second half of 2025.
Traffic through the strait increased after a late-June US-Iran deal, but remained below normal levels, while oil and bunker prices returned to pre-conflict levels.
Tankers averaged $82,000 per day, their strongest rate environment on record, supported by OPEC volumes, low fleet growth, consolidation and sanctions.
VLGC rates peaked close to $200,000 per day and averaged $100,000 per day, while LNG carrier spot rates averaged $77,000 per day.
Container freight rates reached their highest level on record outside Covid and mid-2024, while charter rates rose 5%.
Bulker earnings averaged $17,000 per day, with capesizes peaking above $40,000 per day. Car carrier rates rose 65% to $70,000 per day as Chinese exports increased 50%, while the Offshore Index gained 4%.
Newbuilding demand remained strong. More than 150 VLCCs were ordered in the first half, already the highest annual total since 1973. Contracting was also active in LPG carriers and containerships.
The orderbook reached 207m CGT and $657bn by mid-year, equal to 21% of the fleet, up from 10% in 2020 but below 55% in 2008. Shipyard output rose 14% year on year in CGT, with Chinese yards holding a 57% delivery market share in the first half.
The global fleet is forecast to grow 5% in 2026, while the orderbook has expanded 10% since the start of the year.
Secondhand volumes eased after a strong first quarter, although record tonnage still changed hands in the first half. Tanker and bulker asset prices rose 26% and 16% respectively since the start of 2026, while the combined value of the world fleet and orderbook reached $2.4trn.
Clarksons said the green transition remained an underlying trend despite regulatory uncertainty and slower uptake of alternative fuels in some segments. Energy-saving technologies are now fitted on 48% of fleet tonnage.
Clarksons Research is the data and analytics arm of Clarksons, providing shipping, trade, offshore and maritime energy-transition intelligence. Shipping Intelligence Network is its digital platform covering supply and demand, freight, vessel earnings, asset values, trade flows and macroeconomic indicators.