Tanker Market: A New Landscape Forming Once Again With Hormuz Latest Closure

AI Summary

The ongoing closure of the Strait of Hormuz has significantly altered the tanker market landscape, increasing ton-mile demand. Shipbroker Gibson highlights that over 100 days of closure, the US remains the main alternative source for barrels replacing those previously transported through the Strait.

The latest developments in the Hormuz Strait could yet again increase ton-mile demand in the tanker market. In its latest weekly report, shipbroker Gibson said that “over the course of more than 100 days of the Strait of Hormuz closure, the US proved to be the single most important source of replacement barrels, both for ...