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Tankers and Gas Strait of Hormuz crisis Political Risk and Trade

Rates surge on some tanker routes amid renewed Hormuz risk

  • VLCC rates surged across key Middle East Gulf routes amid escalating hostilities, tighter vessel availability and war-risk insurance uncertainty
  • Tanker contracting nearly tripled year on year to 407 vessels in the first half of 2026, lifting the orderbook to 19% of the active fleet
  • Tanker prices remained firm despite the expanding orderbook, with 15-year-old suezmax values jumping 65% y/y to $66m

  • News

Tanker rates surge on Middle East risks as owners accelerate newbuilding orders and asset values climb

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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