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
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US sanctions hit Iran's civilian air sector
US sanctions hit Iran's civilian air sector
Washington, 8 September (Argus) — The US Treasury Department on Tuesday imposed sanctions on 27 Iranian airlines and suspended previously granted humanitarian exemptions that allowed non-US airlines to transport passengers to and from Iran. The US also suspended a previously-granted authorization allowing payments to Tehran for overflights by third-country aircraft. The action announced on Tuesday is part of Treasury's "Operation Economic Outcast," aimed at cutting Iran's financial ties with the rest of the world. The US has maintained severe economic sanctions on key sectors of the Iranian economy since 2019, but Tehran over time has found ways to bypass many of them. The previously-sanctioned Mahan Air obtained three Boeing 777 aircraft earlier this summer through front companies in the UAE and Oman, Treasury said on Tuesday. The most significant US measure targeting the Iranian economy involves a naval blockade of Iranian ports, which since mid-July has cut off Iran's exports to China. But Iran also retains the ability to disrupt commercial traffic through the strait of Hormuz, restricting exports of crude, refined products and LNG from the Mideast Gulf. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Hormuz traffic down to 3 vessels: Windward
Hormuz traffic down to 3 vessels: Windward
New York, 4 September (Argus) — Vessel traffic through the strait of Hormuz fell to its lowest level in months on Thursday following an uptick in military exchanges between the US and Iran in the first half of the week. Only three vessels crossed the strait on Thursday, with two inbound transits on the Iranian-controlled northern lane and one outbound transit on US-assisted southern lane, according to maritime security firm Windward. That is one-third of the prior day levels and about 2pc of its pre-war baseline of 135 vessels daily. US vice president JD Vance's assertion that 15mn bl of crude made it through the strait of Hormuz on Thursday thanks to US support are not corroborated by vessel traffic data reviewed by Argus . The southern US-assisted transit lane along the coast of Oman remains the highest risk corridor accounting for 21 out of 24 projectile strike incidents reported since 6 July, according to the UK Maritime Trade Organisation's Operation Centre. The US has started to target Iranian government-owned tankers as direct retaliation for Iranian attacks on the tankers Senegal Prosperity and Sidr , according to Windward, confirming that the US struck two empty Iranian tankers as part of their 1 September strikes. By Charlotte Bawol and Delfina Marchese Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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.
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