Oil Shipping Costs Reach Dizzying New Highs on Hormuz Snarls
Baltic Exchange data show the cost adds about $38.50 a barrel on a 2 million-barrel cargo, forcing some sellers to discount exports.
- On Wednesday, October 7, the Baltic Exchange in London reported that hiring a supertanker to move U.S. oil to Asia reached a record $77 million, as global shipping costs surged.
- The war involving Iran continues to disrupt tanker routes and extend transit times, reducing effective fleet supply even as Middle East oil flows rebound.
- These rates far exceed pre-war levels of $7 million to $10 million and the 2025 average of $9.2 million, adding huge costs to the petroleum supply chain.
- This spike increases delivery costs by about $38 per barrel on a 2 million-barrel cargo, forcing some West African sellers to discount exports to remain competitive.
- Trading firm Trafigura recently chartered The Alexandros to sail from the U.S. Gulf Coast to China for $76 million, while producers utilize a shuttle system through the Strait of Hormuz.
21 Articles
21 Articles
The cost of transporting a large tanker with American oil to Asia has reached 77 million USD, reported Bloomberg, citing data from the Baltic Exchange in London. In 2025, the average cost of the same route was 9.2 million USD. With a load of 2 million barrels, the current freight means an additional transportation cost of about 38.5 USD per barrel. The main oil futures are traded at about 100 USD per barrel, which makes logistics a significant p…
After the outbreak of the Iranian war, the energy crisis has become even more severe, despite the almost total absence of fighting and the restoration of oil supplies from the Persian Gulf, and the cost of tankers has already risen to one third of the price of oil.
A supertanker flight from the United States to Asia costs 77 million dollars against 9.2 million last year. Because of this, fuel can rise in price in Europe and Ukraine.
Bloomberg:. Oil shipping costs have surged to record levels due to disruptions in the Strait of Hormuz, with the cost of a giant tanker from the United States to Asia reaching about $77 million, compared with $9.2 million in..
Bloomberg:Oil shipping costs have surged to record levels due to disruptions in the Strait of Hormuz, with the cost of a giant tanker from the United States to Asia reaching about $77 million, compared with $9.2 million in 2025, increasing the risks...
Coverage Details
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
