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Tankers and Gas Strait of Hormuz crisis Finance

Hormuz crisis evolves into even greater moneymaker for tanker owners

  • VLCC and suezmax spot rates spiked earlier in September and have remained near to all-time highs since then
  • On a percentage basis, aframax spot rates have risen even more than VLCC rates in September, with multiple aframax indexes at record highs on Monday
  • Product tanker rates surge: Singapore-Australia MR index reached its highest level since September 2022, the India-Japan index reached its highest since May 2020, the US Gulf-Europe MR index spiked 66% on Monday vs Friday and the US Gulf-Brazil index gained 44% on Monday vs Friday

  • Analysis

Historic rate-positive consequences of the Hormuz shuttle trade and Gulf of Oman ship-to-ship transfer operations are reverberating across the world’s crude and product tanker markets

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