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Tanker Owners Are Having the Best Week of the Hormuz Crisis
Hiring costs for Gulf tankers have nearly doubled in a week as about 100 ships remain trapped and traffic through Hormuz stays below normal.
- Persian Gulf tanker rates are surging as producers ramp up exports, turning a slow return to normal into significant financial gain for shipping companies.
- Even after Iran lifted its effective blockade last week following a ceasefire with the United States, traffic through the Strait remains well below normal levels.
- The cost of hiring a tanker in the Gulf jumped from around $106,000 to more than $190,000 per day in just one week, while some very large crude carriers earn nearly $470,000 daily.
- Abu Dhabi's ADNOC is aggressively marketing crude cargoes as refiners in India seek additional Middle Eastern supplies, creating a sudden surge in demand for ships.
- Before the war began in late February, roughly 125 ships passed through the Strait daily, whereas current traffic remains a fraction of that while 100 tankers remain trapped inside the Gulf.
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18 Articles
18 Articles
The US and Iran have agreed on a framework agreement after three and a half months of war - but for many of the ships stuck in the Persian Gulf, the agonizing standstill has no end.
saarbruecker-zeitung.deReposted by 
Handelsblatt
HandelsblattThe US and Iran have agreed on a framework agreement after three and a half months of war - but for many of the ships stuck in the Persian Gulf, the agonizing standstill has no end.
Coverage Details
Total News Sources18
Leaning Left0Leaning Right4Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
C 56%
R 44%
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