Ongoing warfare has driven daily oil tanker freight charges up to $254,050, based on Bloomberg figures compiled by Topline Securities.
Through the years 2022 to 2025, daily rates typically stayed between $20,000 and $50,000 before experiencing a steep upward trend in 2026.
Figures from Galbraith covering time charter equivalent rates for an 80,000-deadweight-ton Aframax tanker traveling from the Middle East Gulf to the Far East indicated a peak of $280,000 per day.
Transportation expenses remain elevated with current charges sitting near $254,000 per day.
Growing violence targeting commercial vessels near the Strait of Hormuz is driving the dramatic rise in freight prices.
Data gathered by the Washington Institute for Near East Policy and reported by Reuters on October 23 showed that October set a record with 28 confirmed and reported attacks in the strait and nearby waterways.
