2026年06月08日至06月12日 航运市场周报

航运市场综述 (Market Overviews)

1.北行航线 (North Bound)

Market remains soft, with little change seen over the past few weeks. Activity is largely limited to 12KT benzene cargoes for June loading and 10–12KT palm oil parcels for both June and July dates.

市场表现依然疲软，过去几周未见明显改观。交易活动很大程度上局限于 6 月份装运的 1.2 万吨苯货载，以及 6 月和 7 月货期的 1 万至 1.2 万吨棕榈油船货。

Market sentiment remains weak as the ongoing conflict disrupts supply chains, while feedstock shortages keep plants in the region either shut or operating at reduced capacity. Although a couple of available cargoes are heated palm oil parcels, charterers continue to target freight levels comparable to those achieved by easy chemical cargoes, typically in the mid-to-high USD 20s/MT range for 12KT into Mid China.

由于持续的冲突导致供应链受阻，外加原料短缺致使该地区工厂要么关闭、要么降负荷运行，市场情绪依旧低迷。尽管目前有几单待运货载为加热棕榈油，但租船人仍将运价目标锁定在与易卸化工品相当的水平——对于运往华中的 1.2 万吨货载，运价通常在 20 美元/吨的中高区间。

As a result, some owners prefer to ballast vessels to South China in search of cargoes offering better overall economics. Tonnage availability remains available from prompt dates onwards.

因此，部分船东更愿意将空船开往华南地区，以寻找整体经济效益更好的货物。从即期及后续日期来看，运力供给依然充裕。

Freight rates are holding at last-done levels for the time being, with the fixing window currently at approximately 1–3 weeks.

目前运价维持在上一执航水平，定船窗口期目前约为 1 至 3 周。

2. 南行至海峡地区 (South Bound to Straits)

The market continues to experience a tightening of June space as cargo inquiries, which includes blending components, caustic soda, methanol, acids, and smaller chemical parcels, continue to support Southbound runs. Demand is shifting forward, with fresh July inquiries emerging, particularly for 6–10KT toluene blending stocks, alongside MTBE and some uncovered June stems.

随着货物询盘（包括调合组分、烧碱、甲醇、酸类及小型化工品货载）持续支撑南下航线，6 月份的舱位继续呈现收紧态势。市场需求正向前传导，7 月份的新增询盘已开始涌现，尤其是 6,000 至 10,000 吨的甲苯调合原料，此外还有甲基叔丁基醚（MTBE）以及部分尚未落实船期的 6 月份货载。

While thin trading margins are pressuring overall sentiment, Mid-China to Straits 10KT rates are currently assessed at USD 43–45/MT. However, owners continue to hold firm at last-done levels, mindful that once vessels arrive in the Straits they face strong competition for subsequent repositioning cargoes.

尽管微薄的贸易利润压制了整体市场情绪，但目前华中至海峡航线 10,000 吨级货载的运价仍评定在 43–45 美元/吨。然而，船东们依然坚守在上一执航的价格水平，因为他们深知，船舶一旦抵达海峡地区，在寻找后续回空/移泊货源时将面临激烈的竞争。

The forward fixing window currently stands at approximately 3–4 weeks. Meanwhile, persistent terminal congestion and shore tank ullage constraints in Singapore continue to delay vessels from discharging blending products, significantly disrupting forward scheduling.

目前的远期定船窗口期大约在 3–4 周。与此同时，新加坡持续存在的码头拥堵以及岸罐容量受限，导致卸载调合产品的船舶不断延误，从而严重干扰了船舶的远期排班。

3. 远东至印度/阿拉伯湾 (FEA to India/AG)

Cargo flow remains consistent from June and into 1H July, with base oil, methanol, BTX, acetic acid, caustic soda, and various chemical parcel inquiries continuing to circulate in the market. However, it remains difficult to determine how many of these inquiries represent genuine cargoes as opposed to freight checks as sentiment often shifts once owners’ freight indications are presented.

6 月份至 7 月上半月的货物流量保持稳定，市场上持续流传着基础油、甲醇、苯/甲苯/二甲苯（BTX）、醋酸、烧碱以及各类散杂化工品的询盘。然而，目前很难判断这些询盘中有多少代表真实货源，有多少仅仅是询价，因为一旦船东报出意向运价，市场情绪往往就会发生转变。

Both tonnage and cargo availability remain ample, although a noticeable gap persists between owners’ and charterers’ freight expectations, with the market largely waiting to see which side is prepared to move first. Owners continue to target freight levels in the high USD 70s to low USD 80s/MT range for full-ship J19–25,000 dwt cargoes, while charterers’ ideas generally start with a “6” in front. Demand into this region remains soft, prompting some owners to hold firm at last-done levels while keeping a ballast-back-to-Straits option in mind.

目前运力和货源供给依然充裕，但船东与租船人之间的运价预期仍存在明显差距，市场基本上在观望哪一方会率先做出让步。对于 1.9 万至 2.5 万载重吨的 J19 型满载货载，船东的目标运价仍锁定在 70 美元/吨的中高区间至 80 美元/吨的较低区间，而租船人的意向价普遍以“6”字开头。由于进入该地区的货运需求依然疲软，部分船东选择坚守在上一执航水平，同时心中保留着空驶回海峡地区的退路。

On the smaller parcel side, solvent cargoes of around 2,000 tons continue to circulate, although freight expectations remain as much as USD 10/MT apart, with owners targeting the mid-to-high USD 90s/MT range versus charterers’ ideas in the mid-USD 80s/MT.

在小宗货载方面，2,000 吨左右的溶剂油货源继续在市场上流传，但双方的运价预期差距高达 10 美元/吨——船东的目标是 90 美元/吨的中高区间，而租船人的意向价则在 80 美元/吨的中段。

Overall, despite the continued disparity in freight expectations, market levels remain largely unchanged at last-done levels, with the fixing window holding at approximately 3–4 weeks.

总体而言，尽管运价预期持续存在分歧，但市场运价水平基本未变，维持在上一执航水平，定船窗口期保持在 3-4 周左右。

4. 阿拉伯湾/印度西海岸 (AG/WCI)

Market fundamentals remain under pressure as the ongoing disruption linked to the Strait of Hormuz continues to weigh on regional trading activity. Ex-Oman volumes remain constrained, with tonnage availability largely limited to a small group of regular owners able to call the region amid prevailing geopolitical sensitivities.

由于霍尔木兹海峡相关的持续受阻不断施压区域贸易活动，市场基本面依然承压。阿曼出发的货运量持续受限，鉴于当前的局势敏感性，目前仅有少数能够在该地区挂靠的常客船东可提供运力。

In contrast, WCI export tonnage for June onwards remains readily available, supported by continued Indian import demand. Ex-WCI cargoes are currently offering relatively competitive freight levels, as many vessels open in the region have already factored in the economics of returning ballast back to the Straits.

相比之下，在印度进口需求的持续支撑下，6 月份及之后印度西海岸出发的出口运力依然十分充裕。目前，印度西海岸出发的货载给出的运价相对具有竞争力，因为在该地区空出的许多船舶已经将空驶回海峡地区的经济效益考虑在内。

Most cargo flows from the Oman–WCI range continue to be directed toward Southeast Asia and Far East Asia, as receivers seek alternative supply sources amid ongoing plant turnarounds and periodic supply disruptions. At the same time, the lack of optimal fixing opportunities has contributed to increased ballasting activity, with vessels repositioning back toward Southeast Asia in anticipation of improved employment prospects.

由于收货人在工厂密集检修和周期性供应中断期间积极寻找替代供应源，从阿曼至印度西海岸区间出发的多数货流仍主要流向东南亚和远东地区。与此同时，由于缺乏理想的定船机会，船舶空驶活动有所增加，不少船舶选择重新移泊至东南亚，以期获得更好的租约前景。

Overall freight levels remain broadly unchanged at last-done levels, with the fixing window currently assessed at approximately 2.5–3 weeks.

总体运价水平基本维持在上一执航水平，目前的定船窗口期评定在 2.5 至 3 周左右。

5. 远东区域内 (Intra–Far East Asia)

The market remains largely unchanged this week, with both COA and spot volumes continuing to stay soft. COA renewal discussions are ongoing, with some contracts already concluded; however, annual contract volumes are generally lower compared to previous commitments, while charterers are increasingly unable to commit to minimum voyage requirements amid ongoing uncertainty surrounding the conflict.

本周市场基本维持原状，包运合同（COA）和现货（spot）货运量均持续疲软。COA 的续约谈判仍在进行中，部分合同已经敲定；然而，与此前的承诺量相比，年度合同总量普遍有所下降，同时由于冲突带来的持续不确定性，租船人越来越难以承诺最低航次要求。

On the tonnage side, vessel availability in the Far East has tightened slightly, as several owners have recently repositioned vessels into the Straits. Nevertheless, given persistently low cargo volumes, available tonnage remains sufficient to meet overall market requirements.

在运力方面，由于近期数家船东将船舶重新移泊至海峡地区，远东地区的船舶供给已略有收紧。尽管如此，鉴于货运量持续处于低位，现有运力仍足以满足市场的整体需求。

Freight rates continue hover at last done levels and the fixing window remains at approximately 2–3 weeks.

运价继续在上一执航水平徘徊，定船窗口期维持在 2-3 周左右。

6. 东南亚区域内 (Intra–Southeast Asia)

COA volumes remain at minimum contractual levels, while spot activity in the chemical segment is relatively soft. In contrast, the CPP market continues to see steady cargo movement.

包运合同（COA）货量仍维持在合同规定的最低水平，同时化工品领域的现货交易相对疲软。相比之下，清洁石油产品（CPP）市场的货物运输继续保持稳定。

However, overall volumes remain insufficient to fully absorb available tonnage, resulting in some prompt vessel openings in the region. Some owners opting to ballast to other regions to avoid idling as well.

然而，总货量仍不足以完全消化现有运力，导致该地区出现了一些即期空载船舶。部分船东也选择将船舶空驶至其他地区，以避免闲置停航。

Port congestion remains severe across the Straits, including Pengerang and Singapore, particularly for pygas and blending component discharges.

海峡地区的港口拥堵依然严重，包括边佳兰和新加坡，尤其是裂解汽油和调合组分的卸货。

Overall, freight rates are holding stable for the time being, with the fixing window at approximately 2–3 weeks, with some owners willing to match charterers’ levels for short voyage requirements.

总体而言，目前运价保持稳定，定船窗口期约为 2-3 周，部分船东为了满足短期航次需求，愿意接受租船人的心理价位。

新闻速递 (News Bites)

Escalating biofuel mandates worldwide are increasing concerns over food security and fertilizer availability, as more agricultural feedstocks are being diverted from food production to meet renewable fuel targets. Biofuel mandates are estimated to consume volumes equivalent to around 40% of global staple crop ending stocks, limiting the ability to rebuild food reserves.

全球不断升级的生物燃料强制令正在引发对粮食安全和肥料供应的担忧，因为越来越多的农业原材料正从食品生产中被分流，以实现可再生燃料目标。据估计，生物燃料强制令所消耗的货量相当于全球主要大宗农作物期末库存的 40% 左右，这限制了重建粮食储备的能力。

Major producers such as Brazil and Indonesia are prioritizing domestic biofuel demand over exports, tightening global supply and supporting higher prices for feedstocks such as vegetable oils and sugar.

巴西和印度尼西亚等主要生产国正将国内生物燃料需求置于出口之上，从而使全球供应趋紧，并对植物油和糖等原料的高位价格形成支撑。

At the same time, countries including the US, India, Brazil, Indonesia, Malaysia, and Thailand are expanding biofuel blending requirements to reduce reliance on fossil fuels, which could further increase demand for agricultural commodities and intensify pressure on global food markets.

与此同时，包括美国、印度、巴西、印度尼西亚、马来西亚和泰国在内的国家正在扩大生物燃料的调合要求，以减少对化石燃料的依赖，这可能会进一步推高对大宗农产品的需求，并加剧全球粮食市场的压力。

The Suez Canal Authority will introduce higher transit charges from mid-July 2026 as it seeks to boost revenue despite ongoing disruptions to shipping patterns.

苏伊士运河管理局（Suez Canal Authority）将自 2026 年 7 月中旬起提高运河通航费，旨在尽管航运格局持续受阻，仍能实现提振收入的目标。

The increase follows the earlier removal of incentives such as the 15% rebate for large container ships, signalling a shift from traffic-recovery measures toward revenue generation.

此次费率上调是在此前取消大型集装箱船 15% 退税等优惠政策之后的又一举措，标志着运河管理局的策略已从“争取交通量恢复”转向“创造收入”。

The authority appears confident that vessels returning to the Red Sea route will continue using the canal despite higher costs.

运河管理局似乎充满信心，认为重返红海航线的船舶即便面临更高的成本，也将继续使用该运河。

Daily Price update as of 12th June 2026