Weekly Tanker Market Monitor: Crude Tanker Orderbook Broke Its 2008 Record in 1H
AI Summary
The crude tanker orderbook broke its 2008 record in the first half of the year amid renewed regional tensions. U.S. and Iran broke the ceasefire, causing sharp freight market reactions and increased risk premiums around the Strait of Hormuz, with key tanker indices firming.
With the United States and Iran breaking the ceasefire again this week, the freight market has reacted sharply, resuming its upward trend within days as risk premia around the Strait of Hormuz returned. The Baltic Dirty Tanker Index and the benchmark Middle East Gulf-to-China VLCC route (TD3C) both firmed on the week. This week, however, ...