A person familiar told CNBC that Trafigura has secured the Alexandros for a Gulf Coast to China voyage at a $76 million rate. Before the current war, that same route typically cost about $7 million to $10 million, underscoring how far charter prices have run.
If the Alexandros loads 2 million barrels, the voyage cost works out to $38 per barrel. That simple division helps show how sharply the transportation line item can balloon when ship availability tightens.
Single-voyage charter rates are a live readout on shipping scarcity. Market Briefs covers freight markets free every weekday.
With conflict roiling the Persian Gulf, the pool of available tankers has shrunk, driving shipping costs sharply higher. Producers in the region have turned to a shuttle method to keep barrels moving via the Strait of Hormuz: one vessel carrying cargo transits the strait, then offloads the crude to a second ship in the Gulf of Oman for the onward voyage to Asia. The setup lowers exposure to Iranian attack and has helped crude flows through Hormuz recover, but it also soaks up more ships to move the same amount of oil.
ICE Brent Crude (Dec′26) last traded at 101.05, up 0.47 points or 0.47% at 8:26 PM BST. Higher shipping bills can influence delivered oil costs and timing, which can ripple into what you pay for fuel and goods tied to transport.
When one cargo costs this much, the whole route is tight. Join Market Briefs free and follow the rates.
