Freight costs surge as buyers scramble for vessels following disruptions linked to the Iran conflict and Strait of Hormuz closure

Indian Oil Corporation has failed to secure any bids for chartering vessels to transport crude oil and LPG from the Strait of Hormuz. Ship owners are hesitant due to the current…

Shipowners stay cautious amid uncertainty over transit through the strategically vital Strait of Hormuz.

Indian Oil got no bids for three tankers to fetch Gulf crude and LPG as shipowners stay wary of sailing back into the Strait of Hormuz.

According to Reuters, the cost of hiring a tanker in the Gulf has nearly doubled in just a week, jumping from around $106,000 per day to more than $190,000 per day.

LONDON: Oil tanker operators are reaping record profits after nearly doubling the hire cost of vessels going through...

A supertanker has been provisionally booked to ship oil from the Persian Gulf to India at a staggering rate, nearly nine times the benchmark freight cost. This eye-watering price…

Gulf tanker rates have nearly doubled in a week as shippers race to secure vessels betting on a tentative Strait of Hormuz reopening.

Freight costs surge as buyers scramble for vessels following disruptions linked to the Iran conflict and Strait of Hormuz closure

Oil tanker rates have soared since the US and Iran announced the memorandum of understanding as oil importers scramble to charter vessels to pick up Persian Gulf cargoes in the…

"Crude remains under significant pressure..."