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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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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Product tankers exit Hormuz amid Iran U‑turn
Product tankers exit Hormuz amid Iran U‑turn
London, 18 April (Argus) — Three clean oil product tankers sailed out of the Mideast Gulf through the strait of Hormuz earlier on Saturday despite a rapid reversal in Iran's stance on shipping access, while two other vessels approached the strait but appeared to turn back. The movements highlight the lack of clarity facing shipowners and traders. Iran's foreign minister Seyed Araghchi said on Friday that the strait would be open during the current US-Iran ceasefire. US president Donald Trump said shortly afterwards that the waterway was completely open. But Iran's position has since shifted. Parliamentary speaker Mohammed Bagher Ghalibaf said the strait would not remain open while the US naval blockade on Iranian ports stayed in place. And later, Iranian military spokesperson Ebrahim Zolfaqari said that while Iran had initially agreed to the managed passage of a limited number of vessels, it has now returned the strait to strict military control. All three product tankers that exited the strait on 18 April are rated high sanctions-risk by marine consultancy Windward, though none appeared to be carrying Iranian products. It is not clear if they transited before or after the Iranian change of stance. Tracking data from Vortexa and Kpler show the largest vessel, the LR1 Navig8 Macallister , loaded 60,000t of naphtha at the UAE port of Ruwais in the first week of the war and remained in the Gulf for six weeks. The vessel is now signalling a voyage to east Asia. The MR tanker Akti A loaded 30,000t of gasoil from Bahrain's Sitra in the final week before the war began and waited in the Gulf for seven weeks. It is now signalling a voyage to east Africa. The MR Torin loaded 30,000t of naphtha from an unidentified Gulf port in the second week of April and waited for one week. The vessel transited Hormuz after receiving "special permission in co-ordination with Iranian authorities", a shipping broker said. Two other product tankers headed towards the strait on Saturday but did not complete a transit. The LR1 Khairpur appeared to turn back, according to Vortexa data. The firm estimates it is carrying 70,000t of gasoline from an unidentified Gulf port. The vessel had entered the Gulf empty a week ago, becoming the first low-sanctions-risk clean product tanker to do so since early March. The LR2 Sea Condor made a similar approach, carrying 90,000t of Kuwaiti naphtha loaded in the same week the war began, before also turning back. A further 18 clean products tankers have remained in the Gulf since before the war started , around seven weeks, with no sign of attempting an exit yet. Severely restricted traffic through the strait since the US-Iran conflict started at the end of February has tightened oil product supply. Only around 25,000 t/d of clean oil products have exited Hormuz so far in April, according to Vortexa data, compared with about 300,000 t/d across the full month last April. Clean product outright prices and premiums against crude have surged in Europe and Asia, setting multi-decade highs and delaying demand as buyers wait for firmer clarity on shipping access. By Rithika Krishna and Benedict George Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Iran closes Hormuz again in response to US blockade
Iran closes Hormuz again in response to US blockade
London, 18 April (Argus) — Tehran has reimposed restrictions over shipping passing through the strait of Hormuz in response to the continued US naval blockade of Iranian ports, Iran's military leadership announced on Saturday. "Following previous agreements reached in negotiations, the Islamic Republic of Iran, in good faith, agreed to the managed passage of a limited number of oil tankers and commercial vessels through the strait of Hormuz," Lieutenant Colonel Ebrahim Zolfaqari, spokesperson for the Khatam al-Anbiya Central Military Headquarters – the country's highest operational military command – said, according to Iran's Fars news agency, which is affiliated with the Islamic Revolutionary Guard Corps. "But unfortunately, the Americans, with their history of repeated breaches of promise, continue to engage in banditry and maritime piracy under the guise of a so-called blockade. For this reason, the strategic strait of Hormuz is under the strict management and control of Iran's Armed Forces." Zolfaqari added that "as long as the US does not agree to the complete freedom of navigation for vessels from their origin in Iran to their destination and from the destination back to their origin in Iran, the situation in the strait of Hormuz will remain tightly controlled and in its previous state." Tehran had announced on Friday that it was reopening the strait to shipping, until the 22 April expiry of its ceasefire deal with the US, in response to the ceasefire agreement reached between Israel and Lebanon. But the speaker of the Iranian parliament had warned later Friday that Tehran would reimpose the previous restrictions on passage if the US continued with the naval blockade of Iranian ports it began on 13 April. Some tankers have been able to move through the strait during the brief period of reopening – two crude tankers, a VLCC and an Aframax, were able to transit earlier Saturday, according to data from trade analytics platform Vortexa, after two products tankers carrying naphtha were able to pass through the strait overnight, according to data from Vortexa and Kpler. By Jim Washer Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Tankers transit Hormuz despite Iran blockade warning
Tankers transit Hormuz despite Iran blockade warning
London, 18 April (Argus) — Two tankers were transiting the strait of Hormuz eastbound on Saturday, according to data from trade analytics platform Vortexa, potentially marking the first crude shipments to exit the Mideast Gulf since Iran said on Friday that it was reopening the waterway to shipping. The transits also come despite Iran's parliamentary speaker warning later on Friday that the strait would not remain open if the US continued with the naval blockade of Iranian ports which it began on 11 Apr. A laden VLCC, the 301,861 dwt FPMC C Lord , which partially loaded on 23 February in Halul, Qatar, and partially on 28 February in Juaymah, Saudi Arabia, was passing Hormuz using the northern corridor close to the Iranian coast, according to Vortexa data. Vortexa lists the vessel's destination as Fujairah, although the cargo may be bound for Taiwan, where a local company reportedly fixed the ship in early February for a voyage to Mailiao, according to Reshamwala shipbrokers. In addition, the 114,790 dwt Aframax Desh Garima was also transiting Hormuz eastbound, carrying crude from Das Island, UAE, to India, Vortexa data show. Meanwhile, some VLCCs previously bound for Yanbu on Saudi Arabia's Red Sea coast may be redirecting back into the Mideast Gulf. The 299,472 dwt V. Advance , which had been ballasting westbound in the Arabian Sea, recently altered course and now appears to be heading towards the Mideast Gulf or Fujairah, according to Vortexa. Several Suezmax tankers are also idling inside the Mideast Gulf near the entrance to the strait of Hormuz, Vortexa indicate, which may reflect ongoing uncertainty over the status of Iranian and US blockades. Iran announced on Friday that it was reopening the strait of Hormuz until the end of its current ceasefire with the US next week, in response to the agreement of a ceasefire between Israel and Lebanon. But Iranian parliamentary speaker Mohammad Bhager Ghalibaf said later on Friday that the strait would not remain open while the US continued its blockade of Iranian ports. By Andrey Telegin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Hormuz will not remain open under US blockade: Ghalibaf
Hormuz will not remain open under US blockade: Ghalibaf
New York, 17 April (Argus) — Iranian parliamentary speaker Mohammad Bhager Ghalibaf on Friday said the strait of Hormuz will not remain open while the US continues to blockade Iranian ports, seemingly contradicting a statement made by the country's foreign minister earlier in the day. "Passage through the strait of Hormuz will be conducted based on the designated route with Iranian authorization," Ghalibaf, posted on X at 6:14pm ET Friday (22:14 GMT). "Whether the strait is open or closed and the regulations governing it will be determined by the field, not by social media." Ghalibaf led the Iranian delegation during the negotiations with the US in Islamabad, Pakistan, last weekend. Iranian foreign minister Seyed Araghchi had said earlier on Friday the strait would be open to commercial vessels for the duration of the US-Iran ceasefire, after Israel and Lebanon agreed to their own ceasefire. US president Donald Trump moments later said the strait was "COMPLETELY OPEN" and ready for passage. But Trump said the naval blockade the US military began enforcing against vessels entering or leaving Iranian ports on 13 April would remain in full effect until "OUR TRANSACTION WITH IRAN IS 100% COMPLETE". Marine Traffic Vessel tracking data in the region showed a large number of vessels setting sail to exit the strait of Hormuz following the news that it was open for commercial transit. Vessels attempting to exit the strait indicated affiliations with France, India, Turkey and China in the destination fields of their automatic identification systems. Many of the vessels that were attempting to depart have either made U-turns or have stopped, vessel tracking data show. The claims that the strait of Hormuz was open for commercial traffic were met with skepticism by the shipping community and observers. "The announcement from 17 April at around 1400 GMT by US president Donald Trump that the strait of Hormuz is fully open is inaccurate," shipping association BIMCO's chief security officer Jakob Larsen said. "Iran is still in control of how ships navigate" the strait of Hormuz, Noam Raydan, a senior research fellow at the Washington Institute for Near East Policy, posted on X on Friday. "There's a new navigation order in Hormuz. Iran should be expected to continue maintaining influence over the maritime domain." 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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