Hormuz crisis sends Persian Gulf-to-China supertanker rates above $1.1 million a day, a record

Supertanker rates on the Persian Gulf-to-Far East route have risen 12-fold in a few months to a record above $1.1 million a day, as traffic through the Strait of Hormuz collapses; only 17 commodity vessels crossed over the weekend. Rates have blown through post-pandemic highs.

Detected & updated continuously · Source: Nebula