Asian state-owned oil refiners are struggling to secure supertankers for Persian Gulf crude deliveries due to tripled freight rates and a lack of safety guarantees for transiting the Strait of Hormuz.

Major tanker operators say the U.S.-Iran agreement is a positive step, but shipping traffic through the Strait of Hormuz may take weeks or longer to normalize as companies wait…

By Isabel Wang and Myra P. Saefong

PetroChina and Indian Oil faced difficulties securing tankers for Iraqi crude. PetroChina and Indian Oil Corp could not find vessels. Sinochem is searching for a tanker. High…