These diversions have pushed the daily cost of hiring a supertanker above $1 million, adding price pressure to both crude and refined fuels. The disruptions in the transfer network reflect broader maritime instability caused by regional conflict, which is forcing a reconfiguration of how oil is moved out of the Persian Gulf.
Tuesday, October 20, 2026
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Supertanker Hire Costs Top $1 Million a Day on Hormuz Congestion
Commodities20 days ago
Persian Gulf oil producers are shifting critical ship-to-ship cargo transfer operations further away from the Strait of Hormuz as waters near the war-hit region become congested with tankers. Some charterers and shipowners are opting for direct Very Large Crude Carrier deliveries to India or moving transfers to nearby areas in the Gulf of Oman to avoid delivery delays.
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