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.
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Iran revives shipping attacks in Hormuz
Iran revives shipping attacks in Hormuz
New York, 7 July (Argus) — Iran attacked three vessels traveling along the southern portions of the strait of Hormuz in the last 24 hours, significantly raising the threat level to commercial shipping in the region, according to shipping security sources. The UK Maritime Trade Organization (UKMTO) raised the threat level in the strait from "substantial" to "severe" as of 17:05 GMT on Tuesday, the second-highest level on Joint Maritime Information Committee's threat scale, following the three attacks by Iran on commercial shipping in the region. The three attacks appear to have happened as the ships were crossing close to the coast of Oman, in a section of the strait where the US has encouraged transits to avoid Iranian claims of control. A very large crude carried (VLCC) was hit 16 nautical miles (nm) east of Khor Fakkan, UAE, while exiting the strait of Hormuz, according to UKMTO, while another tanker was struck 6nm off Musandam Peninsula, Oman, reporting minor structural damage. Neither of the vessels reported casualties and are proceeding to their next port of call. The third vessel attacked was an LNG tanker identified by Qatar as Al Rekayyat , which EOS Marine's head of advisory Martin Kelly claims in a social media post is now abandoned . The safety of the southern route through the strait, which had been seen as a relatively safe safe transit lane for the past two weeks by assistance from the US military, is now in serious question, according to maritime security firm Windward. Iran is "turning the screw on control of the strait of Hormuz" after the three ships were struck route "despite US air support", Kelly said. Following the attacks on Tuesday, the US revoked an authorization allowing purchases of Iranian crude and refined products , as the US-Iran interim deal signed last month shows signs of fracturing. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Republicans urge Trump to restore Jones Act
Republicans urge Trump to restore Jones Act
New York, 1 July (Argus) — Republican US House members, including speaker Mike Johnson (R-Louisiana), are urging President Donald Trump to not renew a waiver on domestic shipping requirements issued following the outbreak of the US-Iran war, according to a letter seen by Argus . "We write to respectfully request that the current Jones Act waiver be allowed to expire as scheduled on 16 August 2026 and encourage you to utilize alternative policy tools to address fuel and fertilizer costs while preserving the strength of the American maritime industry," 52 House Republicans said in the 30 June letter. The Merchant Marine Act of 1920, also known as the Jones Act, stipulates that shipments between US ports must be carried on vessels that are US-built, US-flagged and US-crewed. The current Jones Act waiver was first issued on 17 March on the basis of national security and was later extended by 90 days. It is unclear whether the Trump administration will decide to extend the waiver. "Foreign-flagged vessels have operated under the waiver even in circumstances where US-flagged vessels were available, creating an understandable concern about the effect on American jobs, manufacturing and investment," the Republican lawmakers said in the letter. "The Jones Act waiver has become a loophole exploited by adversarial countries to erode America's maritime dominance." The national security pretense of the waiver, and its potential negative effect on the US domestic shipping community at a time where the administration has made revitalizing shipbuilding a priority, has come under increased scrutiny from domestic maritime stakeholders. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Dozens of ships transit Hormuz via Omani corridor
Dozens of ships transit Hormuz via Omani corridor
London, 25 June (Argus) — More than 50 ships have exited the Mideast Gulf through a southern route around the strait of Hormuz in the past three days, including 14 crude and oil product tankers, according to shiptracking data. The route runs around the tip of Oman and avoids sea lanes designated by Iran. It had been used sporadically during the US-Iran conflict, but was later defined as a temporary corridor under an International Maritime Organisation (IMO)- and Oman-led evacuation plan announced on 23 June. Seven VLCCs, three Suezmaxes and four other crude or clean product tankers have since exited the Gulf along the route. Other vessels using it included 15 bulk carriers — three of them Capesize — alongside containerships, LPG and LNG carriers and other ships. This is likely the busiest period on the route since the start of the conflict, as shipping through Hormuz begins to recover following the US-Iran memorandum of understanding aimed at ending hostilities. At least nine ships have also used the corridor to enter the Mideast Gulf, including the VLCC Ocean Lily , suggesting owners are becoming more confident about operating in the region. But use of the route remains contested. Earlier today, Iran's Islamic Revolutionary Guard Corps (IRGC) warned vessels against using any routes through the strait of Hormuz that have not been designated as safe by Tehran. The IRGC Navy said "some authorities" had announced a new route for ships to transit Hormuz "without informing or co-ordinating with" Iran, which it described as "unacceptable and completely dangerous". "The only permitted routes for passing through the strait of Hormuz are those which were announced by the Islamic Republic of Iran," it said. "Any movement of vessels outside these routes is very dangerous and prohibited." Lower war-risk premiums may support a further recovery in tanker activity. Additional war-risk premiums (AWRPs) for VLCCs have fallen to around 2pc of vessel value from about 5pc previously. Charterers have secured the Olympic Lady to load a crude cargo, marking one of the few VLCC fixtures from within the Mideast Gulf since the start of the war, according to market participants. Oil product trade has also begun to pick up as transit conditions improve. Mideast Gulf refiners have started to offer a wider range of products. Kuwaiti refiner KPC was among the first to return to the spot market this week after lifting force majeure on 18 June, following the US-Iran memorandum. KPC sold naphtha for July loading from Kuwait, likely its first spot fob tender since the start of the conflict. Market participants expect further product offers from KPC to follow. By Rhys van Dinther and John Ollett Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Hormuz traffic management changed forever: Iran
Hormuz traffic management changed forever: Iran
Dubai, 23 June (Argus) — Administration of the strait of Hormuz will never return to how it was prior to the US-Iran war and will instead be managed by Tehran, according to the country's parliament speaker and top negotiator Mohammad Bagher Ghalibaf. "Everyone needs to know that management of the strait will never return to the way it was before the war," Ghalibaf said. The strait has emerged as a key point of contention since the early days of the war, with Iran insisting that it and Oman, as the two countries bordering the waterway, should play a role in controlling how it is used and which vessels are allowed to pass through it. Tehran in May set up a maritime authority, the Persian Gulf Strait Authority (PGSA), in an effort to consolidate its control. The PGSA would manage transit through the strait and has said it has engaged with hundreds of vessels seeking permits to pass safely, in some cases for a toll or fee. The US-Iran interim deal, signed last week, called for Tehran to ensure movement of vessels from the Mideast Gulf to the Gulf of Oman, and vice versa, with the aim of returning traffic to pre-war levels within 30 days — by around 18 July — while allowing Iran to "remove technical and military obstacles and removal of mines." Latest data from Kpler show an uptick in seaborne Iranian crude and oil product exports as of the week starting 15 June, coinciding with the US lifting the blockade it imposed on Iranian ports in April. Iran has agreed not to charge tolls for passage through the strait, at least for the initial 60 days. But it appears intent on keeping the PGSA in control of all traffic. "Of course, we will fully comply with international law," Ghalibaf said. "But people need to understand [that administration of the strait will remain with Iran]." He said the US and Iran have agreed to "establish co-ordination mechanisms there including a hotline and a centre that can be contacted whenever there is any ambiguity or dispute." "Because the administration/management of the strait is with us, we will manage it easily," said Ghalibaf. "If there is any issue, we will solve it." A tale of two shores But Iran will have to act in co-ordination with Oman, which controls the strait's southern shore, and the two have held a meeting that could help institutionalise a new administrative regime. They agreed to form "a joint working group" to "reach agreement on the future administration of navigation in the strait of Hormuz and the services that will be provided in this regard and the costs associated with them in accordance with international standards," the Omani foreign ministry said on 23 June. Oman's foreign minister Badr Albusaidi said the sides "affirmed commitment to international law and toll-free safe passage." Any toll for passage would be incompatible with the UN Convention on the Law of the Sea (Unclos), notably Articles 38 and 42 that provide "all ships and aircraft enjoy the right of transit passage" that "shall not be impeded". Measures adopted by states bordering a strait must not have "the practical effect of denying, hampering or impairing the right of transit passage," Unclos states. But Article 42 also says states bordering straits may adopt laws and regulations relating to transit passage in respect of the safety of navigation, the regulation of maritime traffic, and the prevention, reduction and control of pollution. "The services that will be provided… and the costs associated with them in accordance with international standards," as mentioned by the Omani foreign ministry, will require clarification. By Nader Itayim and Andrey Telegin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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