The expansion of shipping costs comes as oil flows from the Gulf recovered to more than 80% of pre-war levels in September. Naveen Das of Kpler told Reuters that while high rates have lured shipowners back to the region, disruptions persist. To maintain deliveries through the Strait of Hormuz, some commercial ships are navigating by lighthouses and coastal radar while sailing blacked out at night with transponders and communications disabled.
Tuesday, October 20, 2026
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US-Europe Tanker Rates Spike 150% in Spreading Oil Crisis
Commodities15 days ago
Freight costs are surging on global oil shipping routes far from the Persian Gulf, with the Caribbean-US index climbing 70% week-on-week to $335,288 per day. The US-Europe suezmax index jumped 150% in one week to $577,792 per day, and the West Africa-Europe suezmax index rose 145% to $567,138. Other spikes include the West Africa-China VLCC index at $697,160 per day, up 43%, and the US Gulf-Europe aframax index at $313,794 per day, up 44%.
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