BDI, freight rates, bunker prices, and indicator analysis. Data-driven reads on where the market is and why.
The TD3C is the benchmark VLCC freight index for Middle East Gulf to China. On May 11, it printed $462,102 per day in TCE terms. The route it names — Ras Tanura to Ningbo — has been commercially inaccessible for much of the international market for weeks. The index has not stopped. It has changed what it measures.
Brent at $114, BDI at 1,882. The two numbers usually move together. When they don't, the cycle is telling you something — and most operators are reading it wrong. A data-driven analysis of the tanker-bulker divergence and what it means for Q3 2026.
VLSFO volatility hit a decade peak in 2026. Singapore VLSFO moved from $778 to $862/mt in one week of early May. How Hormuz disruption, EU ETS, and refiner constraints are reshaping bunker pricing across Singapore, Fujairah, Rotterdam, and Houston.
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