Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Canada’s Asian pivot faces hurdles
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
Turkmenistan's pipe dream
Construction of the pipeline in Afghanistan is making tangible progress, but extending it into Pakistan and India remains unrealistic for political reasons
Nigerian oil theft: Breakthrough or false dawn?
Progress on fixing Nigeria’s long-term oil pipeline theft problem needs to be supported by a wider strategy to avoid relapse
Iraq’s tangled Ceyhan oil web
KRG, Iraq’s central government and Turkey are all working to get exports flowing from the key port, but complications remain
Canada’s energy superpower ambition
The new government is talking and thinking big, and there are credible reasons to believe it is more than just grandstanding
Is a Russia-Iran gas deal on the horizon?
Russia has ample spare gas, and Iran needs it, but sanctions and pricing pose steep hurdles.
Ugandan crude export pipeline boost
EACOP has overcome a significant hurdle, with a group of regional banks providing an initial financing tranche for a scheme that has attracted criticism from environmental campaigners
Canada revisits big pipeline question
Investor certainty key to diversifying country’s oil and gas exports amid fresh talk of improving infrastructure to boost energy security
Canada to play key role in oil supply growth
Oil sands will be complemented by conventional and shale output growth and supply opportunities improved by the Trans Mountain Pipeline, but the tariff threat remains
India struggles with SPR expansion
Plans to boost capacity have seen little progress as the country lags behind other major oil consumers and importers
US Navy image of Iranian craft swarming a tanker transiting Hormuz last year
Midstream
Simon Ferrie
21 October 2024
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Freight rates chart their own course amid turmoil

For the tanker market, recent escalation in the Mideast conflict has largely been offset by soft fundamentals

Israel’s expanding war continues to cast a shadow over global politics and the commodity markets, especially given recent fears of an escalation with Iran. At the same time, the global tanker market is no stranger to geopolitical risk; indeed, war premiums and other insurance-related costs are explicitly written into contracts and reflected by freight rates. But while the cost of freight has responded to recent developments, particularly at the start of October—when Israel and Iran seemed on the brink of open warfare—the tanker market has not mirrored crude price fluctuations. Other fundamentals and factors continue to ensure freight rates are charting their own course amid the conflict. “We

Also in this section
Canada’s Asian pivot faces hurdles
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
Outlook 2026
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
New Zealand is back open for business
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
New Zealand’s gas horror story will haunt for years to come
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search