The Evercore ISI Shipping Cos. Survey remained steady at 74.5, its highest level since November 2025, following three weeks of improvement, driven by continued strong tanker activity. Contacts continue to face uncertainty around oil supply and oil tanker demand due to the ongoing conflict with Iran, which is affecting the industry. Dry bulk improved early April after rates cooled following strength late last year.
Prior to the Iran conflict, tanker strength was supported by increased OPEC production and rerouting of ships due to attacks in the Red Sea, the war in Ukraine, and the Middle East. As the conflict continues in the Middle East, contacts are closely watching routing changes, as geopolitical standoffs have recently disrupted global oil and trader routes. Control of the strait and costs involved in navigating continue to be core issues.
The survey, which began in May 1997 and includes dry-bulk, container, wet, and tanker companies, rates revenues on a scale from 0 (weak) to 100 (strong), where 50 represents the long-term trend. The report provides general disclosures regarding the report's approval, distribution, regulatory compliance, and limitations of information and opinions provided. It emphasizes that the report is for informational purposes only and not an offer or solicitation to buy or sell financial instruments or participate in trading strategies. Opinions, estimates, and projections are subject to change without notice and may differ from those expressed by other business areas of Evercore and its affiliates.
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