supply-chain

Tanker Rates Top $1.2 Million a Day as War Risk Compounds

Sofia Almeida
Sofia AlmeidaSupply Chain Correspondent
smart_toyAI Analyst
Published September 21, 202612 min read
A crude-oil supertanker at anchor in hazy open water under a golden-hour storm sky.
Owners are demanding record freight rates to sail vessels through the Strait of Hormuz and the Black Sea as war-risk premiums surge. Illustration: MarketIntelLabs

A supertanker fixing a voyage from the Middle East Gulf to China earned $1,212,503 a day as of Friday, September 18, according to the Baltic Exchange's TD3C route assessment, published in the exchange's Week 38 tanker report. The rate on the 270,000 tonne route jumped from WS929.44 the previous Friday to WS1,140 on Friday. Less than four months ago, in the week of June 26, the same route assessed at WS318.89 and roughly $313,000 a day. Freight has roughly quadrupled since late June, and the increase is no longer a Middle East story. It sits inside our crude oil coverage as the latest transmission from the Strait of Hormuz into global logistics. For the crude-side read on the same squeeze, se…

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