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.
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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Trump claims deal with Iran to reopen Hormuz: Update
Trump claims deal with Iran to reopen Hormuz: Update
Updates with changes throughout Washington, 6 May (Argus) — A peace deal under discussion with Iran would reopen the strait of Hormuz to navigation and lift the US blockade on Iranian trade, President Donald Trump said on Wednesday. "Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end," Trump said in a social media post, referring to the US designation for the military operation against Iran that started on 28 February. "If they don't agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before." Iran's foreign ministry said it was still reviewing a US proposal, state news agency Isna said on Wednesday. Iran's Tasnim agency, which is linked to Islamic Revolutionary Guard Corps (IRGC), said that the US proposal "contains some unacceptable clauses". Crude futures dropped sharply after Trump on Tuesday paused the US military mission to force Hormuz open and said that the US and Iran were close to a diplomatic breakthrough. Oil futures have gyrated over the past month after reported breakthroughs in the US-Iran talks that subsequently turned out to have been false starts. The US and Iran reached agreement on a ceasefire on 7 April, but the transit of vessels through the strait of Hormuz is still at a fraction of pre-war levels. Tehran has maintained tight control over the critical Mideast Gulf waterway, while the US has enforced a blockade of Iranian trade since 13 April. Neither Tehran nor Washington officially confirmed details of a possible agreement. Previous statements from Washington and Tehran have outlined the contours of an agreement that would curb Iran's nuclear program in exchange for sanctions relief for Tehran. But red lines drawn by both sides — the US insistence on eliminating Iran's theoretical capacity to produce nuclear weapons and Tehran's assertion of control over Hormuz — will have to be reconciled. The sequence of addressing the points of contention is also an issue, with Tehran keen to push discussion of its nuclear program to a later date. Senior US and Iranian leaders met face to face in Pakistan on 11-12 April, but that round of diplomacy ended without an agreement. The two countries since then have communicated indirectly, through Pakistan. The US on 4 May launched a military mission, dubbed Project Freedom, to challenge Tehran's control over Hormuz. Tehran responded to Project Freedom by launching missiles and drones at US warships and commercial ships transiting Hormuz, while the US destroyed six Iranian naval boats. Iran also targeted the port of Fujairah in the UAE. Trump said on Tuesday he would pause Project Freedom. Tehran had been reviewing the latest US peace proposal before Trump ordered the latest US military mission, and the subsequent confrontation put that review on pause, Tasnim claimed. "After Trump's retreat, Iran has resumed its review in this regard and will announce to the mediator whenever it reaches a conclusion," Tasnim said. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
MSC bypasses Hormuz with hybrid sea–land shipping route
MSC bypasses Hormuz with hybrid sea–land shipping route
Singapore, 6 May (Argus) — Mediterranean Shipping (MSC), the world's largest container shipping company, will launch a new hybrid sea–land shipping service in response to the current disruption to shipping in the Mideast Gulf. The Europe-Red Sea-Middle East Express that bypasses the strait of Hormuz will be launched on 10 May, to meet the rising demand for services from Europe to the Red Sea given the complex geopolitical environment in the Middle East. The service will call at several strategic European ports, including Gdansk, Klaipeda, Bremerhaven, Antwerp, Valencia, Barcelona and Gioia Tauro before directly connecting to Abu Kir port in Egypt, King Abdullah Port, Jeddah, and Aqaba in Jordan. The service is built around a multimodal "land bridge" model. Container ships will transit via the Suez Canal to Red Sea ports in Saudi Arabia, where containers will be transported overland to Saudi Arabia's Dammam port and subsequently redistributed to Mideast Gulf ports using feeder vessels. Feeder vessels are smaller container ships used to transport cargo between regional ports and major hub ports. This route effectively removes the need to transit the strait of Hormuz. The first containership is set to depart Antwerp on 10 May, under voyage OC619 A. The eastbound rotation will cover Gdansk, Klaipeda, Bremerhaven, Antwerp, Valencia, Barcelona, Gioia Tauro, Abu Kir, King Abdullah Port, Jeddah and Aqaba. This is one of several examples of alternative routing solutions that have emerged since the war. Similar multimodal solutions are also in place by other major containership companies, German shipowner Hapag-Lloyd and Danish shipping firm Maersk, highlighting a broader market shift toward hybrid sea–land logistics chains because of disruptions to key maritime chokepoints in the Middle East. Maersk expanded its "land bridge" transport solutions on 4 May across the Mideast Gulf, involving a mix of carrier-haulage "land bridges" and domestic services linking ports in the north of Mideast Gulf, so called the Upper Gulf, Iraq and key Saudi Arabian's ports. Hapag-Lloyd, meanwhile, has reopened bookings on 4 May to Upper Gulf destinations via third-party feeder services, enabling cargo movements to and from Kuwait, Dammam, Qatar, Iraq and the UAE without transiting the strait of Hormuz. Using Sharjah as a transshipment hub, the service supports dry, reefer and in-gauge special cargo, with bonded trucking links between Sharja and Khor Fakkan connected to ports in Oman and India. By Sureka Elangovan and Anna Cherkizova Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US, Iran vie for control of Hormuz: Update
US, Iran vie for control of Hormuz: Update
Updates with details throughout Washington, 5 May (Argus) — The US and Iran have each announced measures designed to challenge the other's claims of controlling navigation through the strait of Hormuz, where commercial traffic remains at a fraction of pre-war levels. The Pentagon, which on Monday launched a military mission to facilitate the exit of stranded vessels from the Mideast Gulf, has advised vessels transiting Hormuz to travel through Omani territorial waters, according to a notice from the US-led Joint Maritime Information Center. Tehran on Tuesday issued a requirement for ships seeking to pass through Hormuz to obtain a transit permit from a newly created agency, "the Persian Gulf Strait Authority", according to Iran's state TV broadcaster. Iran since March has required ships to transit Hormuz via a route close to its coastline, with many ships either paying an unofficial toll or making other arrangements with the Iranian authorities. The competing claims over control over navigation through Hormuz have led maritime associations to warn that risks to shipping in the strait of Hormuz remain elevated. A total of 19 vessels left the Mideast Gulf through Hormuz in the last two weeks. At least three vessels came under attack in the vicinity or in the strait of Hormuz in recent days, including a cargo vessel transiting the strait on Tuesday, according to the UK Maritime Trade Operations agency. The US mission to challenge Iran's control over the strait of Hormuz, launched on Monday, enabled two US-flagged vessels to leave the Mideast Gulf, according to the Pentagon. "We have established a powerful red, white and blue dome over the strait," US defense secretary Pete Hegseth said at a briefing on Tuesday. "We know the Iranians are embarrassed by this fact. They said they control the strait. They do not." Tehran announced the new requirement for a transit permit for ships attempting passage through Hormuz after Hegseth's remarks. Iran's Islamic Revolutionary Guard Corps (IRGC) on Monday published a new map of the strait of Hormuz illustrating the area that it says is "under the management and control" of Iran's armed forces, which would challenge the US-recommended route for Hormuz transit. A 'defensive operation' President Donald Trump's administration launched its "Project Freedom" mission on Monday to facilitate the exit of ships stranded in the Mideast Gulf after the US-Israel war against Iran began on 28 February. The operation is "defensive in nature", US secretary of state Marco Rubio said on Tuesday, which he said means "there's no shooting unless we're shot at first". The US and Iran already exchanged fire on Monday, with Iran launching missiles targeting US warships transiting Hormuz while the US destroyed six Iranian naval boats. The ongoing US naval blockade of Iranian trade is not an act of war, either, Rubio said. "We have a blockade because they shut down the strait," he said. There are 1,550 vessels and 22,500 mariners stranded in the Mideast Gulf, Joint Chiefs of Staff chairman, General Dan Caine said on Tuesday. "At least 10 sailors have already died as a result," Rubio said, noting that "they're isolated (and) they're starving". Characterizing the US military operations as defensive at least partly reflects the Trump administration's effort to sidestep a statute designed to limit the president's authority to wage war without congressional approval. The US's Project Freedom operation is temporary, and the Pentagon is looking to quickly hand over responsibility for the mission to other countries, Hegseth said. "Operation Epic Fury has concluded, and we achieved the objectives of that operation," Rubio said, referencing the US designation for the military attack against Iran before a ceasefire took effect on 7 April. But Hegseth and Rubio have left little doubt that the US plans to force open the strait of Hormuz. Project Freedom "is the first step towards reopening the strait and bringing (Iran's) last-ditch active economic arson to a close", Rubio said. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US' Hormuz operation is 'temporary': Pentagon
US' Hormuz operation is 'temporary': Pentagon
Washington, 5 May (Argus) — The US military operation to facilitate the exit of stranded vessels from the Mideast Gulf is temporary, and the Pentagon is looking to quickly hand over responsibility for the mission to other countries, senior US military officials said on Tuesday. The US mission to challenge Iran's control over the strait of Hormuz, launched on Monday, enabled two US-flagged vessels to leave the Mideast Gulf, according to the Pentagon. But the operation, dubbed Project Freedom, sparked an exchange of fire between US and Iranian forces, along with drone and missile attacks from Iran on the UAE port of Fujairah and ships off the emirate's coast. The US operation is "temporary in duration", defense secretary Pete Hegseth said at a briefing on Tuesday. "We're stabilizing the situation so commerce can flow again, but we expect the world to step up at the appropriate time, and soon we will hand responsibility back to you". Shipping associations have warned that risks to shipping in the strait of Hormuz remain elevated despite the US' military operation. But Hegseth cast the first day of the operation as successful. "We have established a powerful red, white and blue dome over the strait," he said. "We know the Iranians are embarrassed by this fact. They said they control the strait. They do not." But Tehran also appears to be viewing the results of the military engagement in the strait on Monday as successful. "The new equation of the strait of Hormuz is in the process of being solidified," Iran's parliamentary speaker Mohammed Bagher Ghalibaf posted on social media on Tuesday. "Events in Hormuz make clear that there's no military solution to a political crisis," Iran's foreign minister Abbas Araghchi said on Monday, warning the US and the UAE to be "wary of being dragged back into quagmire". The US and Iran agreed to a ceasefire on 7 April, and that halt to hostilities officially remains in effect, Joint Chiefs of Staff chairman, General Dan Caine said at the briefing. But the ceasefire did not stop Iran from firing missiles and drones at US warships on Monday, while the US destroyed six Iranian naval boats. Iran's attacks on US warships, commercial ships and targets in the UAE in the past month are "all below the threshold of restarting major combat operations at this point", Caine said. But he added: "The threshold of restarting (the war) is a political decision above my pay grade." Hormuz has remained largely closed to navigation for almost two months. The US since 13 April has been conducting a naval blockade, forcing vessels departing Iranian ports to turn back. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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