Average earnings across the main shipping segments have reached a new record. The ClarkSea index rose 12% in a single week to $84,951 per day, well above the previous peak of around $50,714 set in 2007. So far in 2026 the index is averaging 70% above last year and 87% above its ten-year trend.

Where the gains are

• Crude tankers: VLCC earnings climbed 21% to roughly $804,601 per day, Suezmax rates rose 17% and Aframax rates jumped 46%.

• Containers: the Shanghai Containerized Freight Index (SCFI) is at 3,664 points, 215% higher than a year ago.

• LPG: very large gas carriers on the US–Japan route are earning a record of about $209,000 per day.

Where it is softer

Dry bulk eased by 3%, and spot rates for LNG carriers fell 19% to $34,250 per day.

Why it is happening

Brokers Hartland and Affinity point mainly to geopolitics. Security threats in the Persian Gulf, the Red Sea and the Black Sea are pushing vessels onto longer voyages, which ties up more ships and tightens capacity. Affinity notes that this upturn is already in its fifth or sixth year and is showing no sign of slowing.

What it means for importers

With container rates more than triple last year's level, importers should expect high ocean freight costs and limited space in the near term. Book early and check rates and surcharges before every shipment.