freight rates

Freight now tops 40% of US oil price as tanker rates soar

Oil from the Persian Gulf is flowing again, but getting it to buyers now costs far more than it used to. The International Energy Agency's October Oil Market Report, published Wednesday, October 14, said Gulf crude exports were nearing pre-war…

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Goldman says soaring freight costs widen oil price gaps

Tanker costs are now pulling apart oil prices that normally move together. Goldman Sachs The Goldman Sachs Group, Inc. estimates that the average global crude freight rate has climbed to $30 a barrel, up from $4 a year ago, and…

Supertanker freight rates hit record high on Hormuz snarls

Hiring a supertanker to move crude from the U.S. to Asia now costs more than ever. On Wednesday, Oct. 7, the price of chartering a very large crude carrier (VLCC) for that trip reached $77 million, according to Baltic Exchange…

China’s crude futures hit record as Middle East disruptions reshape oil trade

The cost of shipping crude oil from the United States to Asia has climbed to record or near-record levels, as mounting disruptions to Middle East supply routes drive Asian refiners to seek alternatives from outside the Persian Gulf. The surge…

Maersk doubles quarterly profit, raises outlook for second time this year

Maersk A.P. Møller - Mærsk A/S on Thursday reported second-quarter earnings that far exceeded expectations and raised its full-year guidance for the second time in 2026, as port congestion, strong Chinese exports, and disruptions from the Middle East conflict combined…

Global shipping rates hit post-pandemic high as Hormuz traffic plunges

Container shipping rates have surged to their highest levels since the pandemic-era supply chain crisis of 2022, driven by a combination of rush shipments ahead of U.S. tariff deadlines, ongoing disruptions in the Strait of Hormuz, and port congestion that…

Maersk, Hapag-Lloyd resume Suez Canal sailings for Asia-Europe route

Shipping giants Maersk A.P. Møller - Mærsk A/S and Hapag-Lloyd announced on Monday that they will resume some sailings through the Suez Canal under their Gemini joint network, marking the first return of a major Asia-Europe service to the waterway…

Supertanker booked at record 897% of benchmark rate amid Persian Gulf vessel shortage

A supertanker operated by South Korean shipowner Sinokor has been provisionally booked to transport crude oil from the Persian Gulf to India at 897 Worldscale points — nearly nine times the standard freight benchmark and the highest single fixture recorded…

Port congestion traps 3.4M TEU as container rates rise for seventh straight week

The KOBC Container Composite Index has climbed for a seventh straight week as an early peak season and front-loaded demand from the U.S.-China tariff truce continue to strain global shipping capacity. Port congestion across Asia and Europe has trapped an…

Tanker stocks rally as oil tumbles after U.S.-Iran deal

Crude oil prices have tumbled nearly 15% this week as the United States and Iran signed an interim peace agreement, but tanker stocks have defied the downturn, climbing on investor bets that elevated freight rates and shipping risk premiums will…

Tanker rates stay triple pre-war levels despite Hormuz reopening

The months-long disruption to the Strait of Hormuz has sent shipping costs spiraling upward across global trade lanes, forcing carriers to impose emergency surcharges, retailers to accelerate imports, and Asian refiners to balk at freight offers even as the waterway…