Tanker Attacks Hit Highest Level Since War Began, Rates Explode

· Shipping · Iran · United Arab Emirates

Tanker attacks in the Middle East hit their highest level since the war began last week, and the pace has continued this week, according to shipbroker Gibson. The escalation has pushed tanker rates to unprecedented levels, with Clarksons Research reporting global VLCC spot earnings reaching $805,000 per day. The attacks are spreading deeper into the Gulf, with a fully laden VLCC struck off the UAE and another tanker hit in the Strait of Hormuz over the weekend. Freight strength is also spreading through other tanker segments, and India has returned to Iraqi supply as Gulf oil movements recover. However, insurance costs and the onward Red Sea voyage remain important constraints on the market.

Why it matters：The record pace of attacks and the resulting freight spike directly affect the cost of moving oil worldwide, with shipowners, charterers and insurers all exposed. If attacks continue, they could force permanent route changes and higher insurance premiums that reshape global oil logistics.

Key points

  • Attacks hit their highest level since the war began last week, per Gibson, and continued this week.
  • Global VLCC spot earnings reached $805,000 per day, according to Clarksons Research.
  • India returned to Iraqi supply as Gulf oil movements recover, though insurance costs remain a constraint.

Sources (original reporting)

More stories from this day