Further compounding the bearish sentiment, a proposed regulatory move by the United States this week threatens to disrupt global shipping flows. The rule, if enacted, would impose substantial levies—ranging from $500,000 to $1.5 million per port call
Refinery utilization edged down to 84.9% from 85% the previous week, reflecting the impact of the ongoing maintenance season. Meanwhile, total motor gasoline inventories recorded a slight draw of 200,000 barrels
In response, carriers have intensified blank sailings and announced general rate increases (GRIs) of approximately $1,000 per FEU, effective 01 March. However, scepticism remains over the sustainability of these hikes, given weak demand fundamentals.