GMS Week 39 – Earnings Roar, Supply Retreats

AI Summary

Tanker availability through the Strait of Hormuz has tightened significantly amid increased Gulf flows, security concerns, and disrupted alternatives, pushing VLCC employment costs beyond USD 1 million per day. The high prices reflect ongoing geopolitical risks affecting maritime transport in the region.

Last week, constrained passage through Hormuz was the story. This week, the cost of moving through it has become the louder one. Tanker availability has tightened dramatically as Gulf flows, security concerns and disrupted alternatives compete for the same ships, with some VLCC employment reportedly exceeding USD 1 million per day. A tanker was also ...