Freight
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Oil, gas and dry cargoes are being shipped all over the world every day. With seaborne transportation comes exposure to shipping costs. Be it via direct cost or through the prices of feedstocks or finished products, a freight factor is always there. Highly sensitive to market shifts, geopolitics and regulations, freight is a complex and volatile part of every trade.
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Attacks push ships to Iran-linked Hormuz route
Attacks push ships to Iran-linked Hormuz route
New York, 16 July (Argus) — Ships transiting the strait of Hormuz are increasingly using the traffic lane designated by Iran following the resumption of Iranian attacks on commercial shipping and US attacks on Iranian targets around the narrow waterway. Vessel-tracking service Windward shows that out of 18 strait of Hormuz transits into the Mideast Gulf on 15 July, 13 were through the northern, Iranian-controlled route while only one transited the southern, US-supported corridor. It is unclear what route the remaining four vessels took because they transited with their Automatic Identification Systems switched off and radar tracking could not identify them. For vessels exiting the Mideast Gulf, eight vessels utilized Iran's northern route out of the 11 vessels that transited the strait on 15 July. One vessel used the southern route, and two were unable to be tracked, according to Windward. Commercial vessel traffic through the strait remains at a fraction of prewar levels as a result, with a combined 29 vessels transiting through the waterway on 15 July, around 22pc of prewar levels, data from Windward shows. The US has continued to encourage vessels to transit the strait via the southern route along Oman's coastline, which is the path that Iran has been targeting, increasing risks to mariners. Iran views transits on non-Iranian controlled routes as violations of the 18 June interim agreement and truce that broke down last week and as a challenge to its control over the waterway. Commercial traffic through the strait of Hormuz since the outbreak of the war on 28 February has been bifurcated between the northern route, which runs along the Iranian coastline, and the southern route along the Omani coast because of suspected Iranian-placed mines throughout the typical transit lanes in the center of the strait. This change in traffic patterns is the second time in less than a month that increases in vessel attacks by Iran and subsequent attacks by the US aimed at destroying Iran's ability to attack vessels has resulted in higher usage of the Iran-favored traffic lane through the strait. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US restarts enforcement of Iran blockade: Update
US restarts enforcement of Iran blockade: Update
Adds US disabling of oil tanker New York, 15 July (Argus) — The US military has begun disabling and redirecting vessels that violate its renewed blockade of Iranian ports, following the breakdown of a four-week-old ceasefire agreement between the countries. US Central Command (Centcom), which oversees US forces in the Middle East, said it disabled the empty Curacao-flagged oil tanker Belma while it was transiting international waters toward Kharg Island on 15 July. "The commercial vessel ignored multiple warnings as it attempted to violate the US blockade," Centcom said on social media. "A US aircraft disabled the vessel after firing hellfire missiles into the ship's smokestack. The ship is no longer transiting to Iran." In the first 24 hours of enforcing the renewed blockade, Centcom said it also redirected two compliant commercial vessels. Prior to the US and Iran signing of the agreement on 18 June, US forces imposed a naval blockade from the Gulf of Oman and a northern section of the Arabian sea, preventing ships from reaching Iranian ports and turning vessels back toward Iran's coast. The US Navy redirected 140 ships and disabled nine vessels from 13 April to 18 June as part of this initial blockade. But enforcement activity during the first US blockade was uneven. While the blockade did impede Iranian exports, Iranian crude loading activity continued with ballast vessels able to make it through the blockade . US, Iranian actions endanger mariners The US on Tuesday reimposed its blockade on Iranian ports following the breakdown of the shaky truce it reached last month with Iran, including the restart of Iranian attacks on commercial vessels transiting the strait of Hormuz. The US has framed its latest military actions as intended to degrade Iran's ability to attack commercial shipping in the strait of Hormuz while Iran "targets innocent civilians transiting the strait and in neighboring Gulf countries", Centcom said Wednesday on social media. "Iran has intentionally targeted civilians across the region by attacking seven commercial ships resulting in nearly a dozen civilian crew members killed, missing or injured," Centcom said. "US forces are holding Iran accountable for unwarranted aggression that continues to endanger innocent lives." US enforcement of its original blockade on Iranian ports also resulted in mariner casualties. In June, the US attacked the tanker Settebello , which resulted in the deaths of three Indian crew members, an action condemned by the International Maritime Organization and the Indian Ministry of Foreign affairs . The US has continued to encourage vessels to transit the strait via the southern route along Oman's coastline, a path that Iran has been targeting, increasing risks to mariners. "US-assisted commercial transits continued despite the elevated threat environment," the UK Trade Maritime Information Center wrote in a 14 July advisory note. Iran views transits on non-Iranian controlled routes as violations of the 18 June agreement and as a challenge to its control over the waterway. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US restarts enforcement of Iran blockade
US restarts enforcement of Iran blockade
New York, 15 July (Argus) — The US military has begun redirecting vessels that violate its renewed blockade of Iranian ports following the breakdown of a four-week-old ceasefire agreement between the countries. "Since restarting the naval blockade against Iranian ports 17 hours ago, US forces have redirected two commercial vessels attempting to run the blockade," the US Central Command (Centcom), which oversees US forces in the Middle East, said on social media at 9:20am ET (13:20 GMT) Wednesday. "The US military remains vigilant and prepared to ensure full compliance." Prior to the US and Iran signing of the agreement on 18 June, Centcom forces imposed a naval blockade from the Gulf of Oman and a northern section of the Arabian sea, preventing ships from reaching Iranian ports and turning vessels back toward Iran's coast. The US Navy redirected 140 ships and disabled nine vessels from 13 April to 18 June as part of this initial blockade. But enforcement activity during the first US blockade was uneven. While the blockade did impede Iranian exports, Iranian crude loading activity continued with ballast vessels able to make it through the blockade . US, Iranian actions endanger mariners The US reimposed its blockade on Iranian ports following the breakdown of the shaky truce it reached last month with Iran and the restart of Iranian attacks on commercial vessels transiting the strait of Hormuz. The US has framed its latest military actions as intended to degrade Iran's ability to attack commercial shipping in the strait of Hormuz while Iran "targets innocent civilians transiting the strait and in neighboring Gulf countries", Centcom said Wednesday on social media. "Iran has intentionally targeted civilians across the region by attacking seven commercial ships resulting in nearly a dozen civilian crew members killed, missing or injured," Centcom said. "US forces are holding Iran accountable for unwarranted aggression that continues to endanger innocent lives." Yet, US enforcement of its original blockade on Iranian ports also resulted in mariner casualties. In June, the US attacked the tanker Settebello , which resulted in the deaths of three Indian crew members, an action condemned by the International Maritime Organization and the Indian Ministry of Foreign affairs . The US has continued to encourage vessels to transit the strait via the southern route along Oman's coastline, a path that Iran has been targeting, increasing risks to mariners. "US-assisted commercial transits continued despite the elevated threat environment," the UK Trade Maritime Information Center wrote in a 14 July advisory note. Iran views transits on non-Iranian controlled routes as violations of the 18 June agreement and as a challenge to its control over the waterway. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Iran says 200 ships sought Hormuz permits since June
Iran says 200 ships sought Hormuz permits since June
Dubai, 14 July (Argus) — More than 200 non-Iranian vessels co-ordinated with Iran's Persian Gulf Strait Authority (PGSA) to transit the strait of Hormuz in the three weeks after Tehran and Washington signed their memorandum of understanding (MoU) last month, the authority said on Tuesday. The PGSA was formed as part of Tehran's push to tighten control over shipping in and around the critical strait of Hormuz after the start of the US-Israel war with Iran in late February. Tehran has required vessels seeking to transit the strait to apply in advance for a permit from the PGSA. In many cases, this also involved paying a fee to the authority. This fee was waived for 60 days as part of the MoU signed on 18 June, which was intended to lay the groundwork for reopening the strait to commercial shipping, ending the fighting and starting talks towards a final peace deal. But tensions over control and administration of the strait resurfaced last week as Iran and the US began exchanging fire. Iran declared the strait closed again over the weekend of 11-12 July, and US president Donald Trump announced on Monday that Washington would reimpose a naval blockade on Iran. "Prior to the recent provocations by US forces in the region that led to the closure of the strait, more than 200 non-Iranian vessels co-ordinated with the PGSA during the three weeks following the signing of the memorandum of understanding," the authority said. A breakdown published by the PGSA showed that 41pc of vessels applying for permits were "oil tankers". Bulk carriers accounted for 27pc, container ships 18pc and LNG carriers 2pc. The PGSA said 53pc of vessels submitting requests were travelling eastbound through the strait to exit the Mideast Gulf, while the remaining 47pc were westbound and entering the Gulf. Of the eastbound vessels, 21pc were destined for China, 20pc for India and 29pc for elsewhere in Asia-Pacific. Another 22pc were travelling to destinations in the wider Middle East region, including ports in Oman, Saudi Red Sea ports and the UAE port of Fujairah. Of the westbound vessels, 21pc originated in India, 19pc in China and 20pc from other Asian countries. The PGSA said 24pc of vessels entering the Mideast Gulf through the strait originated from ports "within the region". The PGSA said 79pc of vessels that co-ordinated with it before transiting the strait also took out insurance cover from the authority. It said 14pc of vessels that had applied were still awaiting permits. It has taken the PGSA an average of 50 hours to issue permits, the authority said. Rival routes Ship transits through the strait of Hormuz have collapsed since the weekend to levels not seen since the early days of the war. At the heart of the latest flare-up is a dispute between Tehran and Washington over the management of the strait. The broadly worded MoU signed last month called for Iran to "make arrangements… for the safe passage of commercial vessels". Tehran interpreted that clause as giving it total control over which vessels can use the waterway and which route they should take. The US has rejected that interpretation. Iran has prescribed a northern route through the strait along the Iranian coastline, arguing that other routes remain unsafe because naval mines have yet to be cleared. But the US has promoted a southern route through the strait along the Omani coastline. Washington has said 380mn bl of crude exited the Mideast Gulf, and more than 800 ships passed through the strait via this route, between 18 June and 10 July — roughly the same period covered by the PGSA data. By Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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