Financial Ports

VLCC Rates Smash $800,000/Day as Hormuz Shuts Down

CLAVE 1 / 4VLCC rates on the AG-Far East route have surged to over $800,000 per day in September 2026, the highest in history.

CLAVE 2 / 4The closure of the Strait of Hormuz and restrictions in the Bab el-Mandeb Strait have driven the unprecedented spike.

CLAVE 3 / 4Few shipowners are willing to risk transiting Hormuz, pushing rates to $600,000/day in August and beyond.

CLAVE 4 / 4A 5-year-old VLCC now costs $158 million, while a newbuild is priced at $129 million due to immediate spot market demand.

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