Freight
Overview
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.
To manage this exposure, industry participants, from producers and traders to government agencies and financial institutions rely on our freight data for contracts, pricing formulas, analytics and arbitrage tracking.
Argus Freight consists of three dedicated services, covering trade flows for tankers, dry bulk and gas markets. Each service provides daily freight indexes, industry-specific news, market analysis and exclusive content. This enables you to connect the dots between commodity prices and shipping costs, giving you a complete view of the supply chain.
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Hormuz traffic at 9 vessels: Update
Hormuz traffic at 9 vessels: Update
New York, 3 September (Argus) — A total of nine vessels crossed the strait of Hormuz on Wednesday, with four inbound and five outbound transits, data from maritime security firm Windward shows. Of the inbound transits, one was a tanker on the US-assisted southern lane, while two of the five outbound ships were on the southern lane. The remaining transits took place on the Iranian-controlled northern lane. Wednesday's transits are up by five vessels from the day before, but still far below the pre-war average of around 135 vessels daily. Vessel traffic on Wednesday stood at around 6.5pc of traffic levels prior to the joint US-Israeli attack on Iran on 28 February. The US Central Command assisted 44 transits through the strait of Hormuz between 1-2 September, according to data posted Thursday by the UK Maritime Trade Operations (UKMTO) Centre. The figure could not be corroborated by any available satellite or vessel tracking information reviewed by Argus . US President Donald Trump continues to claim large amounts of crude is making it through the strait of Hormuz, posting a graphic titled "Hormuz Oil Volumes are BACK!" on social media Thursday. The graphic claims that "now" 18mn b/d of crude are exiting the strait of Hormuz, prior to "before", when volumes were around 20mn b/d. Vice president JD Vance echoed Trump's claims, stating that 15mn bl of crude exited the strait of Hormuz overnight at a White House press briefing on Thursday. There have been some days where combined flows from the Mideast Gulf, including loadings from ports in the UAE and Oman, reached close to 18mn b/d, such as on 9 August, per data from vessel information firm TankerTrackers.com. But the daily average for flows through the strait remains far below pre-war levels. As of 2 September, over the prior 28 complete days 7.54mn b/d exited the Mideast Gulf, according to TankerTrackers.com, including 5.04mn b/d through the strait of Hormuz. The rate for a very large crude carrier to move crude from the Mideast Gulf through Hormuz to Asia-Pacific rose to an all-time high of $19.39/bl on 2 September, a $11.69/bl premium over the route that bypasses Hormuz and starts in the Gulf of Oman, Argus data shows. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
California crude producers weigh 2027 exports
California crude producers weigh 2027 exports
Houston, 3 September (Argus) — Oil producers in California are exploring plans to export locally produced heavy sour crude overseas starting in 2027, as regional refinery closures weigh on domestic demand and the state tries to expand oil production. Discussions center on moving heavy sour San Joaquin Valley (SJV) crude along the 265-mile San Pablo pipeline system north to San Francisco and south to Los Angeles for loading onto waterborne tankers, according to traders and in-state producers. Draft restrictions at both ports would likely restrict loadings to partially-full Aframax or Panamax tankers, according to one trading source. Producers are aiming to ship the first cargo in the first quarter of 2027, with potential destinations being Asia-Pacific and Washington state, if the Jones Act waiver is maintained, according to market sources. No California crude has been exported via ship since at least 2016, according to Vortexa data, when records began. Crude production in California has been in a long term decline, with production more than halving from its 2016 average to about 245,000 b/d for the first half of 2026, according to the Energy Information Administration (EIA). Around 80pc of this crude is SJV grade produced in central California. SJV's gravity is around 14° API and has a Total Acid Number (TAN) of 3.63, according to consultancy Haverly Systems' assay library. This is heavier and over double the TAN of potential rival Canadian heavy crudes exported out of the 890,000 b/d Trans Mountain system. California has lost about 17pc of its refining capacity since October 2025 following the closures of Phillips 66's 139,000 b/d Los Angeles refinery and Valero's 145,000 b/d Benicia complex. This has prompted other refiners, including PBF Energy and Marathon Petroleum, to increase runs of Californian crude, attracted by weaker differentials and improved economics. State officials have tried to counter the refinery shutdowns by encouraging more local oil production. Earlier this year the state approved about 380 onshore oil drilling permits in Kern County, in a bid to stabilize fuel supply and prevent more refinery closures . The new drilling permits have yet to lead to a rise in output, but if it does rise it will meet a weaker demand outlook in California due to the refinery closures and the long-held view that California is "not refiner friendly" according to industry sources. This long-term outlook is prompting the look at future export routes into Asia-Pacific. The San Pablo Bay pipeline system was shut-down earlier this year due in part to the drop in refinery demand. But California Resources Corporation, the largest producer in the state, closed this month on the $63mn purchase of the pipeline system's operator, Crimson Midstream Holdings. By John Cordner, Catherine Rabe and Sarah Tucker Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Hormuz traffic at 9 vessels: Windward
Hormuz traffic at 9 vessels: Windward
New York, 3 September (Argus) — A total of nine vessels crossed the strait of Hormuz on Wednesday, with four inbound and five outbound transits, data from maritime security firm Windward shows. Of the inbound transits, one was a tanker on the US-assisted southern lane, while two of the five outbound ships were on the southern lane. The remaining transits took place on the Iranian-controlled northern lane. Wednesday's transits are up by five vessels from the day before , but still far below the pre-war average of around 135 vessels daily. Vessel traffic on Wednesday stood at around 6.5pc of traffic levels prior to the joint US-Israeli attack on Iran on 28 February. US president Donald Trump continues to claim large amounts of crude is making it through the strait of Hormuz, posting a graphic titled "Hormuz Oil Volumes are BACK!" on social media on Thursday. The graphic claims that "now" 18mn b/d of crude are exiting the strait of Hormuz, prior to "before", when volumes were around 20mn b/d. There have been some days where combined flows from the Mideast Gulf, including loadings from ports in the UAE and Oman, reached close to 18mn b/d, such as on 9 August, per data from vessel information firm TankerTrackers.com. But the daily average for flows through the strait remains far below pre-war levels. As of 2 September, over the prior 28 complete days 7.54mn b/d exited the Mideast Gulf, according to TankerTrackers.com, including 5.04mn b/d through the strait of Hormuz. Combined crude, refined products and natural gas flows through the strait stood at around 23.7mn b/d between January-February before the outbreak of the war, data from vessel tracking firm Vortexa shows. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Hormuz vessel traffic drops further: Update
Hormuz vessel traffic drops further: Update
New York, 2 September (Argus) — Vessel traffic through the strait of Hormuz on Tuesday fell to some of the lowest levels in months as the US and Iran exchanged strikes around the narrow waterway. Only four vessels transited the strait on Tuesday, down from 13 on Monday, data from maritime security firm Windward shows. Tuesday's transits were split between one inbound trip on the Iranian-controlled northern lane and three outbound trips, including two on the southern US-assisted lane. This puts vessel traffic below 3pc of its levels prior to the US-Israel attacks on Iran on 28 February. "TRUMP STRAIT" US officials continue to claim control over the strait of Hormuz and assure that large flows of crude are exiting the narrow waterway, despite increased military activity in the region. US Energy Secretary Chris Wright said on Wednesday in an interview with CNBC that more than 17mn bl were shipped through the strait on Monday, higher than pre-conflict levels. Vessel tracking and satellite data from Windward, Kpler and Vortexa reviewed by Argus does not corroborate this figure. Vessel information firm TankerTrackers.com (TT) said on Wednesday that the average flows of crude through the strait from 14 July onwards stands around 4.9mn b/d, and that during the past 28 complete days there have been only six days where more than 10mn bl of crude departed from the Mideast Gulf, which include flows through Hormuz and loadings in the Gulf of Oman from ports such as Fujairah, UAE and Mina Al Fahal, Oman. "Now that we have it under U.S.A control, should we change the name Hormuz strait to TRUMP STRAIT???" US President Donald Trump said in a social media post on Wednesday. Trump earlier in the day described the US as having almost total control over the strait. US Central Command, which oversees US forces in the Middle East, claimed in a UK Maritime Trade Operations Centre report that the US facilitated the transit of 39 vessels through the strait of Hormuz in the final two days of August, a figure that is not corroborated by any available satellite or vessel tracking information. Iran crude exports drop The US continues to enforce its blockade on Iranian ports. As of Tuesday, Centcom said it has redirected 84 commercial vessels, disabled three ships and boarded two, in order to ensure compliance with a blockade of Iranian ports it reimposed on 14 July. Iranian oil exports have stalled following the reimposition and enforcement of the US' blockade. Data from vessel tracking service Kpler shows no crude exports last month, and TT said on Tuesday that Iranian crude exports are down 100pc from their pre-war baseline. Iran cut its oil production over the summer to match its domestic refining and consumption, so the country is under little logistic pressure to export crude, explaining the lack of tanker loadings at Iran's main export hub Kharg Island, TT said on Wednesday. Iran has increasingly been attacking commercial vessels in the strait of Hormuz and attempting to further crack down on vessel traffic through the waterway. Iran's Persian Gulf Strait Authority, established after the breakout of the war, added 12 new vessels to its list of non-compliant vessels for a total of 57. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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