-- A dispute over Hormuz transit risk has pushed tanker rates to about $475,000 per day, sharply curbing vessel bookings and disrupting Persian Gulf oil shipments, according to a Bloomberg analysis on Thursday.
Shipowners and charterers remain split over who bears Hormuz transit risk, sharply limiting new tanker bookings despite steady demand for cargo shipments, the analysis said.
The situation highlights how, seven weeks into the Middle East conflict, the critical energy corridor remains highly unsafe, discouraging routine shipping activity and raising uncertainty for global oil trade flows.
The analysis said that at least two oil producers holding cargoes in the Persian Gulf have recently sought vessels while requiring owners to ensure smooth loading, secure passage, and timely delivery, according to people familiar with the discussions.
Industry participants, including shipowners and brokers, said those requirements are impractical given current conditions, the analysis added.
Some shipowners are demanding strict contractual protections that charterers find excessive and therefore preventing most agreements for lifting crude from the region, according to the analysis.
Although the route is shut by both the US and Iran, only a limited number of vessels are transiting by hugging coastlines or turning off tracking systems.
The Baltic Exchange has directed brokers to include a risk premium in freight calculations, with daily tanker earnings rising to about $475,000 from roughly $160,000 before the conflict, underscoring sharply higher costs.