A sharp decline in tanker transits through the Strait of Hormuz and rising floating storage in the Gulf signal a shift toward risk-managed energy transport rather than normal market operations. Recent AIS data now indicates that commercial tanker traff…
Strait of Hormuz Spotlight: Scenario Analysis Read More »
The tanker market, expectedly, is roaring to higher levels, especially for those few braving a crossing of the Hormuz Strait. Still, most are now trapped and the option of floating oil storage is beginning to look more realistic by the day. In its late…
Clean LR2 MEG LR2 freight moved dramatically this week. The TC1 75kt MEG/Japan index ultimately went from WS222 to WS446, with the corresponding TCE climbing to $120,000/day on Baltic description round trip. A voyage west saw the TC20 90kt MEG/UK-Conti…
Tanker Shipping Rates Post Strong Gains on Middle East Worries Read More »
The continued attacks in the Gulf by the US/Israel have increased tensions around the key sea route passage, Strait of Hormuz, which handles around 2.9 mbpd of refined products such as naphtha and diesel. This massive volume accounts for almost 17% of …
US–Iran conflict to alter the trade pattern of product tankers Read More »
A major oil supply shock in Asia economies is about to occur, amid the war in Iran and the effective closure of the Hormuz Strait. In its latest weekly report, shipbroker Banchero Costa said that “in Jan-Dec 2024, global crude oil loadings declined mar…