Tanker Rates Flip the Math on Buying Versus Chartering

VLCC tanker rates have hit record highs as Strait of Hormuz risk shrinks the available fleet, making it cheaper to buy a tanker than charter one. Tom Beney, StoneX SVP of Ocean Freight, explains how Middle East crude is still reaching the market and why oil producers are buying aging tankers. Shuttle tankers are moving crude out through the Strait of Hormuz to ship-to-ship transfers in the Gulf of Oman, while a Saudi pipeline carries oil to the Red Sea. P&I clubs and mainstream shipowners remain wary of the route, and a proposal to let the sanctioned shadow fleet back into trade faces hurdles over vessel age and compliance. 0:00 Gulf Crude Exports Rebound 0:52 Hormuz Shuttles Feed VLCCs 2:12 Gulf of Oman Hits Capacity 3:15 Insurers Shun Hormuz Risk 5:05 VLCC Rates Hit Record Highs 6:05 Cheaper to Buy Than Charter 8:39 Shadow Fleet's Sanctions Snag 9:29 Oil Stocks Need Refilling Discover Actionable Insights with StoneX Market Intelligence: https://shop.stonex.com/collections/all?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_tom_beney&utm_content=share Like and subscribe for more financial market insights. #StoneX #TomBeney #CrudeOil #Tankers #StraitOfHormuz --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@StoneX_Official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social