Tanker in Iraqi territorial waters Photo: Reuters
Shipowners doubled transport prices: barrels of oil are leaving the Gulf countries again
Tanker rates in the Persian Gulf have jumped sharply as demand for oil transport rises after the calm.
24 June 2026, 15.01
jk
Shipping companies have almost doubled their charter prices for tankers on routes through the Strait of Hormuz and the wider Persian Gulf region. According to maritime sector sources and shipping data, the gradual recovery in shipping has triggered a wave of demand for oil transport, writes the Rijeka Novi list.
Chartering a tanker sailing through the Strait of Hormuz into the Persian Gulf now costs about $190,500 (about 175,000 euros) a day, up from about $106,500 (about 98,000 euros) a week ago, according to shipbrokers and industry representatives.
Half a million dollars a day
The average daily revenue (TCE) for very large crude oil tankers on transports from the Persian Gulf, which must cross the Strait of Hormuz on departure, reached a near-record $470,000 (around €432,000) per day. That’s about $50,000 more than a week ago.
“Tanker owners are preparing for significantly higher volumes of Middle Eastern oil in the coming weeks. They are also encouraged by the fact that average daily revenues on the physical market remain above $100,000 per day, despite the reduced volume of cargo since the start of the US-Iran conflict,” said shipbroker Clarksons.
The company’s analysts add that this indicates an extremely limited supply of tankers, and the reopening of the Strait of Hormuz will further reduce available capacity.
Direct acquisition of oil
Producers, mainly Abu Dhabi National Oil Company from the United Arab Emirates, have been offering oil to buyers through several tenders since the beginning of June by accepting cargo directly in the Persian Gulf, which further increases the demand for tankers.
According to the MarineTraffic system, one of the tankers of the South Korean shipping group Sinokor entered the Persian Gulf on Monday and headed for the Iraqi oil terminals, where it will take on cargo.
While tanker charter rates have risen sharply, the cost of war risk insurance has fallen to around three percent of a ship’s value in the past five days from about five percent a week earlier. This could reduce ship insurance costs by hundreds of thousands of euros, according to Reuters.
