Freight rates chart their own course amid turmoil
For the tanker market, recent escalation in the Mideast conflict has largely been offset by soft fundamentals
Israel’s expanding war continues to cast a shadow over global politics and the commodity markets, especially given recent fears of an escalation with Iran. At the same time, the global tanker market is no stranger to geopolitical risk; indeed, war premiums and other insurance-related costs are explicitly written into contracts and reflected by freight rates. But while the cost of freight has responded to recent developments, particularly at the start of October—when Israel and Iran seemed on the brink of open warfare—the tanker market has not mirrored crude price fluctuations. Other fundamentals and factors continue to ensure freight rates are charting their own course amid the conflict. “We

Also in this section
11 July 2025
Equinor and its partners at Norway’s largest oilfield have pulled the trigger on a fresh $1.3b investment that will maintain high output for longer
11 July 2025
Reassessment of the country’s export-facing gas policy coincides with worsening domestic market backdrop
10 July 2025
Without sanctions relief, there is little reason to believe the latest potential attempt at exports from the Russian liquefaction project will be more successful than the one last summer
9 July 2025
Efforts to restructure and boost investment appear to be working, but doubts remain about the plan to almost double crude production by 2030