US-Iran Conflict Helps Drive Wave of Supertanker Orders
- On September 17, shipowners ordered 217 supertankers this year, a record-breaking $20 billion buying spree as the US-Iran war forces trade route shifts and boosts demand for long-haul crude shipments.
- Virtual closure of the Strait of Hormuz and damage to a Saudi pipeline forced Middle Eastern producers to acquire their own vessels to bypass Iranian attacks, significantly altering oil transport patterns.
- Spot prices recently climbed above $500,000 per day from about $132,000 in February, while building each Very Large Crude Carrier costs about $130 million with around 20 per cent of the fleet over 20 years old.
- Rising bunker prices push container shipping rates higher as owners recoup costs through surcharges, while older vessels populate a 'shadow fleet' transporting sanctioned oil outside mainstream Western shipping systems.
- Regional production in South America could grow by around 2.5 million barrels per day through 2030, fueling expectations that long-haul trades on bigger vessels will remain resilient into the medium term.
18 Articles
18 Articles
The escalation in the Middle East drives the cost of transporting goods by ship. Consumers are likely to feel the higher prices, especially for fuel.
Ocean container shipping rates could test record highs as Iran war fuel spike drives rise, analysts say
By Lisa Baertlein LOS ANGELES, Sept 17 (Reuters) - The off-contract ocean container shipping rate from China to the U.S. East Coast has returned to levels seen after COVID-19 upended global trade, and could set new record highs as the U.S. and Israeli...
US-Iran Conflicts Drives Increased Global Orders of Supertankers
Shipowners have already ordered more than twice as many supertankers this year as in all of 2025, a buying spree worth over $20 billion that is the biggest for at least 25 years, as the US-Iran war redraws trade routes and boosts demand for long-haul crude shipments.Data from Signal Group…
Escalation in the Middle East has led to a dramatic increase in the purchase of giant ships to transport oil against the backdrop of the blockage of conventional logistics routes, Reuters writes. The conflict around Iran has led to a strong increase in demand for oil supertankers. Since the beginning of the year, the number of applications for the construction of super-large ships has reached 217 units, transmitting RIA News with reference to th…
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