TREE NEWS reports: Chartering a Very Large Crude Carrier to move US crude to Asia now costs $77 million, London’s Baltic Exchange said on Wednesday, a record high for the route. The 2025 average for the same voyage was $9.2 million, adding a massive cost layer to the oil supply chain as disruption in the Strait of Hormuz chokes tanker availability.
Hormuz Disruption Sends VLCC Charter Rate to Record $77M
AI take
The scale of the jump matters less as a shipping story than as a cost pass-through story: a voyage expense that was a rounding error in 2025 is now a headline input for refiners and traders moving US crude east. The constraint is tonnage availability rather than outright demand, which is why the Hormuz disruption transmits so directly into the charter market. Whether that dislocation persists depends on how quickly tanker capacity reroutes back to the route, and whether Asian buyers absorb the added freight cost or look elsewhere for supply.
Generated by AI for reference only.
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