Allianz: In Persian Gulf, more than 1,000 ships blocked
Shipping through the Persian Gulf is reportedly being blocked, disrupting movement of seaborne commodities and industrial cargoes.
Source →The trace
How it reaches your house.
Starting from Frontline plc, we walked the supply graph hop by hop to the goods you buy and the companies you own. Each step is the engine’s reasoning, scored for confidence and cited where a source backs it.
First impact
Frontline plc →supply upFrontline time-charter coverage for VLCC voyage sales
Frontline partially mitigates the Hormuz disruption by increasing time-charter coverage, with the reported 30% of VLCC voyage sales covered anchoring the transmission magnitude.
“In response to the closure of the Strait of Hormuz, Frontline has increased time charter coverage, with approximately 30% of VLCC voyage sales covered”
78% confidenceCited →Frontline plc →Prices risePersian Gulf oil tanker chartering
The same Frontline-focused tanker-market report states that Persian Gulf tanker hiring costs rose from $106K/day to $190K/day, a near-doubling in transport input cost.
“The cost of hiring oil tankers in the Persian Gulf has nearly doubled in the past week, rising from $106K/day to $190K/day”
74% confidenceCited →