Shipping Markets in Q2 2025

Shipping Markets in Q2 2025: A Quarter of Divergence and Strategic Complexity

By Dr. Michael Tsatsaronis

The second quarter of 2025 confirmed a reality long emerging in global shipping: volatility is no longer an exception but the defining condition of the industry. As I reflect on the insights provided by our research team in this edition of the Shipping Market Analysis, it becomes clear that this quarter did not deliver uniform outcomes, but rather a mosaic of sector-specific challenges and transitions.

Tanker markets, while still resilient, are operating under increasing pressure. The once-robust boost from long-haul crude flows—amplified by geopolitical dislocation and sanctions—now faces the counterweight of softening global demand and a structural shift away from oil. At the same time, an aging fleet and tightening shipbuilding capacity signal long-term fragility. It is notable that nearly one-fifth of the global tanker fleet is now over 20 years old, yet demolition volumes remain stubbornly low. This misalignment between environmental regulation and market incentives is a risk factor that shipping stakeholders must address without delay.

Dry bulk, in contrast, is caught between opportunity and caution. The surge in demand for key raw materials like copper and nickel—driven by electrification and green transitions—has supported Supramax and Panamax segments, while Capesize vessels lag amid a sluggish Chinese steel market. What stands out is the steady progress in digital transformation: autonomous navigation systems, high-speed connectivity, and AI-powered routing are no longer theoretical pilot projects—they are becoming operational realities. For me, this signals a paradigm shift in fleet management and competitiveness, one that Greek shipowners must embrace proactively.

In the container market, volatility continues to define the landscape. The short-lived rate spikes of Q2, driven by tariff tensions and trade distortions, were quickly offset by softening demand and fragile consumer sentiment. Yet underneath the surface lies a strategic reconfiguration: major carriers are not scaling back—they are investing. The rise of dual-fuel, methanol-powered, and ammonia-ready newbuilds, with delivery windows stretching to 2029, reveals the long-term thinking shaping the sector.

LNG and LPG segments, too, are navigating transition. LNG spot rates remained under pressure in Q2, reflecting oversupply and project delays, but the medium-term outlook remains strong. LPG trade flows, particularly into Asia, remain robust and support stable freight. Here again, fleet renewal dominated headlines, with dual-fuel propulsion becoming standard for new orders.

Finally, the sustainability landscape is evolving quickly. The enforcement of the Hong Kong Convention and the Mediterranean ECA mark regulatory inflection points. Yet the momentum lies in technology: carbon capture, wind-assisted propulsion, battery systems, and digital platforms are redefining what a “compliant vessel” means. Greece continues to lead in LNG-fueled tonnage and scrubber retrofitting—testament to our sector's capacity to adapt when properly incentivized.

As I review this quarter’s developments, I’m reminded that strategic agility, technological adoption, and regulatory foresight are no longer optional—they are existential imperatives.