#tanker-rates

#tanker-rates

Jet fuel tends to be an airline's biggest expense. An analysis by the International Air Transport Association showed that, for the week ending March 27, the weekly average price of jet fuel has skyrocketed 116.8 per cent compared to the previous year's average.

KeyBanc's revised oil deck reflects a materially stronger crude environment than previously modeled, with dislocations in global crude and refined products expected to persist into summer.

India has not received a cargo from Tehran since May 2019, following US pressure not to buy Iranian crude. New Delhi has turned to Tehran for energy supplies as the Iran war rattles supply.

Australia's economic insulation is no longer guaranteed by geography, as geopolitical unrest in the Middle East can swiftly impact its economy through international energy markets.

When the war broke out, we put a Warlike Operations Area Committee in place to address the protection of seafarers in the region. The organization has identified certain maritime routes in the region, including the Arabian Gulf, the Strait of Hormuz, and some parts of the Gulf of Oman as high-risk areas, encouraging ship owners to allow seafarers to terminate contracts if they choose not to operate in those zones.

The analysis of energy imports reveals significant variations in the percentage sourced from the Middle East across different regions, indicating a complex global energy landscape.

From 28 March, Prime Minister Mostafa Madbouly announced that emergency energy-saving measures will run for one month to reduce consumption and ease pressure on supplies.

When geopolitical tensions disrupt normal shipping routes through the Strait of Hormuz or the Red Sea, tankers must travel longer distances to deliver crude oil. More days at sea means higher utilization rates and more revenue per voyage. On top of that, higher oil prices increase the value of the cargo being transported, which supports stronger charter rate negotiations between tanker owners and the oil majors that need their ships.