Freight

Connects the dots between commodity markets and shipping

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.

US extends but narrows Jones Act waiver

New York, 10 August (Argus) — President Donald Trump's administration said it will continue to waive domestic shipping requirements under the Jones Act for another 90 day, albeit with stronger oversight than the previous waiver. The waiver, first enacted 17 March, will now require the Department of Defense to consult with the US Maritime Administration (MARAD) on the availability of Jones Act vessels prior to an individual shipping voyage before determining whether the waiver can be applied, a White House official told Argus . This marks a shift from the waiver's current iteration, valid through 16 August, that relies on the vessel operator or charterer documenting their reasoning. As of 7 August, MARAD data show that around half of the reasons given for the 212 documented Jones Act waiver voyages simply cite the shipment's coverage under the waiver, while only 19 entries mention Jones Act vessels not being available. The new waiver still covers most products that were covered previously, such a diesel, gasoline, crude, soybean oil and fertilizers, but coal and coal-derived products are no longer allowed, according to the official. US-based shipping groups expressed strong opposition to a waiver extension, particularly under the existing blanket waiver authority used since March. "The government can respond to a genuine emergency without turning an exceptional waiver into a standing invitation for foreign operators to enter routine domestic commerce," former US federal maritime commissioner William Doyle said in an op-ed in the Washington Examiner on 10 August. The Trump administration issued the waiver of the Jones Act — which allowed foreign flagged and owned vessels to carry US-to-US shipments in place of US-flagged, US-owned and US-crewed vessels — on 17 March on national security grounds under section 501a and later extended it by 90 days. But some of the voyages conducted under the waiver have been criticized by the domestic maritime industry as not serving any national security purpose . The waiver was issued to ensure US airfields and military installations are properly supplied with fuel, but has otherwise been highly popular with US refiners. Republican lawmakers urged Trump in July to restore the Jones Act, calling the waiver "a loophole exploited by adversarial countries to erode America's maritime dominance". By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

UAE’s Adnoc expands tanker fleet in $1.3bn deal

Dubai, 7 August (Argus) — Abu Dhabi state-owned Adnoc's logistics arm has agreed to acquire 11 tankers for $1.3bn, expanding its crude and LPG shipping capacity as the UAE prepares for higher oil and gas exports. The acquisitions comprise six very large crude carriers (VLCCs), each capable of carrying around 2mn bl of oil, and five very large gas carriers (VLGCs). The additions will increase Adnoc Logistics and Services' crude tanker fleet to 14 vessels and its gas fleet to 12. Nine of the vessels were acquired on the secondary market and are due for delivery this quarter, with two newbuild VLGCs acquired through a Chinese shipyard due to follow in the fourth quarter. The VLCC acquisitions come as Adnoc prepares for higher crude exports, with the UAE targeting oil production capacity of 5mn b/d by 2027. They could give the company greater control over deliveries at a time when the US-Iran conflict has disrupted traffic through the strait of Hormuz and tightened tanker availability. Adnoc's 1.8mn b/d Adcop pipeline running from Habshan to Fujairah has provided a partial bypass of the strait since the war began. The company plans to expand the pipeline's capacity to around 3.3mn b/d by 2027, freeing up more crude for export from Fujairah. The latest acquisitions extend a rapid expansion of Adnoc's shipping business. Last month, Adnoc Logistics and Services ordered four LNG carriers worth about $900mn ahead of the planned 2028 start-up of Adnoc's 9.6mn t/yr Ruwais LNG export terminal. The company also added 32 tankers to its fleet through last year's $1.04bn acquisition of an 80pc stake in Navig8. By Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Trump promises Hormuz deal 'soon'

Washington, 6 August (Argus) — President Donald Trump again said on Thursday that a deal to reopen the strait of Hormuz to navigation is imminent, even though Tehran appears to be insisting on major concessions from Washington. "I am involved in the negotiations," Trump told reporters at the White House, adding that "we're doing fine" and that a deal could be concluded "very soon". Trump may have been referring to the dialogue between Iran and Oman when he began on 2 August to reference ongoing talks with Iran that he said would result in reopening Hormuz within a day or two. Iran and Oman are close to issuing a joint statement specifying "geographical co-ordinates" of a safe transit route through Hormuz, Iran's foreign ministry said on Wednesday. But Tehran is demanding the lifting of the US blockade and other concessions from Washington. The deal with Oman "by itself would not make Hormuz safe for transit", Iran's foreign ministry said. The US naval blockade remains in place, and the strait of Hormuz is "sort of open right now", Trump said on Thursday. But he acknowledged that threats posed by Iran are deterring many shippers from using the Mideast Gulf waterway. "We control it, but they can always shoot something, or drop a mine, and if you have one mine sitting out there, you sort of mess things up because people don't want to take their billion-dollar boats and accidentally get hit by a mine," he said. Trump, who has been expressing unease about elevated energy prices, said on Thursday that "oil prices now are coming down very rapidly, it's down to $75/bl". September Nymex WTI rose by $2.07/bl to $77.29/bl on Thursday, bouncing higher after steep losses earlier in the week. Vessel traffic through the strait of Hormuz on Wednesday remained confined mostly to the Iranian-favored northern traffic lane, with maritime security firm Windward recording nine inbound transits and 11 outbound transits, with two transits in both directions taking place on the US-supported southern traffic lane along the coast of Oman. Iran continues to exert pressure on commercial shipping through the strait by attacking intermittently and by issuing warnings to vessels. A tanker transiting north toward the strait of Hormuz on Wednesday reported two loud explosions in its vicinity, leading it to alter its course and abort transit, according to the UK Trade Maritime Operations (UKTMO). Iran's forces on Thursday confronted "hostile enemy targets" near the Qeshm island in the strait of Hormuz, said Iranian news agency Tasnim, which is tied to the Islamic Revolutionary Guards Corps. The report did not detail whether any vessel came under attack. The Iranian claim has not been independently verified. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Hormuz reopening hinges on Iran-Omani deal

Washington, 5 August (Argus) — Diplomatic efforts to reopen the strait of Hormuz to navigation are revolving around an Iran-Omani understanding over the management of shipping routes leading to and from the Mideast Gulf. Iran and Oman are close to issuing a joint statement specifying "geographical coordinates" of a safe transit route through Hormuz, "if some third parties do not obstruct work in this regard", Iran's foreign ministry said on Wednesday. An Iran-Omani understanding could provide adequate diplomatic cover for President Donald Trump's administration to adhere to the terms of a deal it signed with Iran in June and set aside a month later. Trump may have been referring to the Iran-Omani dialogue when he began on 2 August to reference ongoing talks with Iran that he said would result in reopening Hormuz within a day or two. Trump, speaking to reporters late on Tuesday, reiterated that a deal to reopen Hormuz could be concluded by Wednesday or Thursday. And US energy secretary Chris Wright noted on Tuesday: "We're very close to an arrangement that'll achieve both of the objectives: stop impeding the flow of traffic out through the strait of Hormuz and get energy flows going globally." Oil markets appear to be taking seriously US assurances that a deal is imminent. Details of talks with Oman that Iran's foreign ministry shared last week indicate that Tehran is insisting on full control over ships entering the Mideast Gulf and at least partial oversight of the exit routes through the waterway. That arrangement would fall short of the principle of freedom of navigation and unrestricted transit through the waterway that the US, European and Mideast Gulf governments said they are keen to re-establish. But the White House may have concluded — as it did in June — that Hormuz could not be reopened by military means. Vessels transiting through Hormuz have primarily been using the Iranian-favored northern traffic lanes since mid-July. Iran has periodically attacked vessels sailing through a southern route skirting the Omani coast, which theoretically is protected by the US naval and air forces positioned in the region. The Pentagon insists that the southern route remains open to navigation. But even numbers cited by the US military — 30 vessels over 2-3 August — fall far short of the pre-war transit levels through Hormuz of more than 100 vessels daily. The now-defunct US-Iran "memorandum of understanding", signed in June, involved other concessions from Washington. The deal called for the US to lift its naval blockade on Iranian trade, to grant crude buyers unrestricted waivers to access Iranian oil and to give Tehran access to its frozen funds in foreign banks, estimated to total at least $24bn. The US in mid-July reimposed the blockade, revoked the sanctions waiver and refused to allow Iran to repatriate its frozen funds. Tehran appears to be demanding similar concessions as a condition for reopening Hormuz to navigation. The Iran-Omani understanding by itself would not make Hormuz safe for transit "because the factors that make the strait of Hormuz unsafe by the US, especially the naval blockade and other aggressive and threatening actions against Iran and its interests, still exist," Iran's foreign ministry said on Wednesday. US-Iranian negotiations for more than a decade had focused on Tehran's nuclear program, a goal that Trump says remains his top priority. But the war Trump started has refocused diplomacy with Iran toward reopening a waterway that had been fully open to navigation before the US and Israel attacked Iran on 28 February. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

White House mulls Jones Act waiver extension

New York, 4 August (Argus) — The White House is considering extending its waiving of the Jones Act, set to expire on 16 August, with some limitations, but has yet to make a final decision on the matter. "There are still ongoing discussions as the administration continues to monitor how the waiver is being used," a White House official told Argus on 4 August. The potential for a geographically restricted waiver was discussed as a prospective limitation to the Jones Act waiver in mid-July and is now being discussed alongside a cargo limitation, according to a Jones Act market participant. Another adjustment currently under consideration by the White House is the potential for a more limited Jones Act waiver that would require a determination of non-availability of Jones Act vessels, two people familiar with the matter told Argus . Opposition to renewing the waiver has been mounting. House Republicans urged President Donald Trump to restore the Jones Act at the start of July while news that the waiver would be extended once again surfaced in mid-July, prompting backlash among the US domestic maritime industry. "A law intended for genuine emergencies is instead being used to benefit energy market participants, while American consumers and mariners bear the cost," Jennifer Carpenter of the American Maritime Partnership, a coalition of domestic maritime interests, said. There has been a slight uptick in Jones Act tonnage requirements for mid-to-late August, driven by the uncertainty over whether the waiver will expire, a shipbroker familiar with the situation told Argus . Jones Act-compliant tonnage has largely been sidelined from the market since the waiver was issued on 17 March, to the benefit of foreign-flagged vessels. "If there are any further announcements, they will be made directly by the president or the administration," the White House official added. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.