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.
Latest freight news
To unearth the true insights needed to make confident decisions, you need access to data, price assessments and analytical tools to manage freight risks.
Two oil tankers collide off UAE coast
Two oil tankers collide off UAE coast
Dubai, 17 June (Argus) — Two vessels have collided off the coast of the UAE, the country's national guard said today, with at least one confirmed as a crude oil tanker. The collision occurred early on 17 June in the Sea of Oman, around 24 nautical miles off the port of Khor Fakkan on the UAE's east coast, according to the national guard. It identified one of the vessels as the Antigua and Barbuda-flagged Adalynn , a Suezmax crude tanker that had departed Fujairah and was en route to the Suez Canal, according to MarineTraffic data. The national guard said 24 crew members were evacuated and brought ashore at Khor Fakkan. The second vessel was not officially named, but market sources pointed to the Liberia-flagged Front Eagle , also a crude tanker, which had departed Khor Fakkan and was bound for Zhoushan, China. MarineTraffic data show both vessels are currently stationary, with the Front Eagle listed as "not under command." The incident comes a day after the UK Maritime Trade Operations (UKMTO) said it had received multiple reports of "increasing electronic interference" in the Mideast Gulf and strait of Hormuz. The interference is likely linked to the latest escalation between Israel and Iran, triggered by Israeli air and missile strikes on several Iranian military and nuclear sites on 13 June. Iran responded with ballistic missile and drone attacks on military targets in Israel, including the Kirya complex in Tel Aviv, which houses the defence ministry. The two sides have since exchanged missile fire with growing intensity, and critical infrastructure was hit over the weekend. By Nader Itayim and Elshan Aliyev Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
VLCC rates jump on Mideast Gulf disruptions
VLCC rates jump on Mideast Gulf disruptions
London, 16 June (Argus) — Freight rates for very large crude carriers (VLCC)in the Mideast Gulf soared today to the highest since the start of May, as the escalating conflict between Israel and Iran creates significant turbulence in the shipping market. Rates were near a 2025-low as recently as 12 June, the day before the conflict began. Violence continued over the weekend, including a strike on Israel's 197,000 b/d Haifa refinery and against gas treatment facilities in southern Iran. Shipowners have become increasingly reluctant to operate in the Mideast Gulf and there are indications that marine insurers are considering implementing an additional war risk premium (AWRP) in the coming days. This would lead to significantly higher freight costs. The shortage of willing shipowners has driven the Mideast Gulf to east Asia rate, the bellwether VLCC route, up by nearly 60pc, to WS67.5 or $15.78/t today from WS44 or $10.28/t on Thursday, 12 June. In addition to rising rates, vessel speeds throughout the Mideast Gulf region appear to be slowing as shipowners hesitate before committing to a booking. Fixing activity has been minimal, with shipowners reluctant to commit to any deal within the Mideast Gulf even at higher rates. Charterers have made at least eight VLCC cargoes available and all are struggling to find a tanker. But rising rates could make shipowners increasingly likely to commit to bookings, and so fixing activity could resume shortly. VLCC markets in other regions are surging as well, as charterers hike their bids to pull shipowners away from the Mideast Gulf market. A charterer in Brazil wrapped up a fixture at WS62, considerably higher than previous market conditions. The market has been certainly been inflated by concerns around the Israel-Iran conflict and a ceasefire would probably drop the cost of freight back to previous levels. During previous flare ups of tension, the VLCC market has usually firmed rapidly in the early stages but then quickly declined once a ceasefire is declared. By John Ollett and Rhys van Dinther Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
VLCC rates up 25pc after Israeli strike on Iran: Update
VLCC rates up 25pc after Israeli strike on Iran: Update
Adds daily rate change in second paragraph London, 13 June (Argus) — The cost of freight for Mideast Gulf-origin very large crude carrier (VLCC) voyages rose by 25pc today after Israeli air and missile strikes hit Iran in the early hours. The key Mideast Gulf to China route rose to $12.85/t from $10.28/t. The VLCC market is exposed to volatility as around 65pc of all shipments in that class are from the Mideast Gulf. In October 2024, when Iran launched more than 200 missiles against Israel, the Argus- assessed rate for the Mideast Gulf to China route increased by more than 13pc, to $14.10/t, in three days. So far it appears there is no disruption to oil flows through the Mideast Gulf and the strait of Hormuz, and remains unclear as Iran's oil infrastructure was unscathed by the Israeli air and missile strikes according to Iran's state news agency Irna and Argus sources. But some shipowners have become increasingly cautious of the region, with some market participants suggesting more risk-averse owners might avoid the area until the conflict de-escalates. This could encourage some owners to increase their offers as the risk of transiting the area mounts, and discourage some from visiting the region at all. Charterers made multiple cargoes available to the Mideast Gulf market today, but most remained unfixed. But the rise in crude prices today — front month Ice Brent is trading around 5.5pc higher having rise as much as 13pc earlier — could discourage China, the largest importer of Mideast Gulf grades, from purchasing more crude. This could curtail any jump in freight rates and perhaps create a ceiling to cap the increase. By Rhys van Dinther Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
VLCC rates exposed to disruption after Israeli strike
VLCC rates exposed to disruption after Israeli strike
London, 13 June (Argus) — The cost of freight for Mideast Gulf-origin very large crude carrier (VLCC) voyages could increase after Israeli air and missile strikes hit Iran in the early hours of today, 13 June. The VLCC market is exposed to volatility as around 65pc of all shipments in that class are from the Mideast Gulf. In October 2024, when Iran launched more than 200 missiles against Israel, the Argus- assessed rate for the Mideast Gulf to China route increased by more than 13pc, to $14.10/t, in three days. So far is appears there is no disruption to oil flows through the Mideast Gulf and the strait of Hormuz, and remains unclear as Iran's oil infrastructure was unscathed by the Israeli air and missile strikes according to Iran's state news agency Irna and Argus sources. But some shipowners have become increasingly cautious of the region, with some market participants suggesting more risk-averse owners might avoid the area until the conflict de-escalates. This could encourage some owners to increase their offers as the risk of transiting the area mounts, and discourage some from visiting the region at all. Charterers made multiple cargoes available to the Mideast Gulf market today, but most remained unfixed. But the rise in crude prices today — front month Ice Brent is trading around 5.5pc higher having rise as much as 13pc earlier — could discourage China, the largest importer of Mideast Gulf grades, from purchasing more crude. This could curtail any jump in freight rates and perhaps create a ceiling to cap the increase. By Rhys van Dinther Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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