Oil tanker rates top $1mn a day as Hormuz traffic collapses
Supertanker charter rates on the Persian Gulf-to-China route surged to $1.035 million per day, up from $208,000 before the US-Israeli war with Iran. Frontline Ltd. (FRO), International Seaways (INSW), and DHT Holdings (DHT) benefit from this spike. Hormuz traffic has collapsed, with only 17 vessels transiting over the weekend. Saudi Aramco continues exports despite attacks. US diesel prices hit a record high, impacting inflation.


