Tanker owners weigh USGC as Hormuz tensions compromise Persian Gulf flows

AI Summary

Increased tensions at the Strait of Hormuz are prompting tanker owners to consider shifting routes to the US Gulf Coast. Despite reduced VLCC activity from the Persian Gulf, stronger returns on Brazil-China routes temper immediate freight rate surges.

Tanker owners are eyeing the US Gulf Coast as renewed tensions at the Strait of Hormuz threaten to disrupt Persian Gulf crude flows, though tepid VLCC activity out of the region and stronger returns on Brazil-China routes are tempering any immediate surge in US export freight rates. US President Donald Trump’s July 13 announcement of ...