Tanker rates surge, container lines monitor Mideast after US bombs Iran
Freight Waves
JUNE 22, 2025
Spot rates for the largest crude oil tankers from the Persian Gulf to China have surged 50% in the past week on heightened Middle East tensions, but major container lines continue sailings through the region despite threats by Iran to close the vital Strait of Hormuz. Rates for ultra large crude carriers (VLCCs) on the Middle East Gulf to the Far East were climbing even before the United States bombed Iran’s nuclear facilities on June 21.
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