Supertanker Freight Rates Surge to Record $1.4 Million Daily Amid Hormuz Disruption

Supertanker freight rates have surged to a record $1.4 million per day on the Middle East Gulf-to-East Asia route as global vessel availability collapses. Tankers are heavily tied up in ship-to-ship transfers outside the largely closed Strait of Hormuz. Across other routes, Very Large Crude Carriers on the U.S. Gulf-to-Japan corridor commanded lump-sum fees reaching $82 million, a 50% jump in three weeks. As shippers turn to Suezmax and Aframax vessels, B. Riley expects tanker rate strength to persist through remainder of fiscal 2026 and into early 2027.