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Tankers and Gas Strait of Hormuz crisis Red Sea Risk

Hormuz ‘storm’ propels VLCC spot market, asset prices and long-term rates

  • Idle time for VLCCs has increased by 23% as more tonnage gets tied up waiting for STS transfers outside of Strait of Hormuz
  • Baltic Exchange’s TD3C MEG-China VLCC index records yet another all-time high on Friday, rising to $656,168 per day
  • Frontline reports growing interest in three-year time charters from oil majors and other large operators

  • Analysis

VLCC owners have already earned generational wealth. Their ‘champagne problem’ is to max out gains amid uncertainty: weighing spot exposure versus taking some chips off the table via vessel sales or locking in long-term charters 

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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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