Hormuz Disruption Hits Tanker Demand

Hormuz Disruption Hits Tanker Demand

Maritime disruptions through the Strait of Hormuz are reshaping global oil trade flows, threatening extended declines in tanker requirements.

Oil-on-Water Levels Decline

Oil-on-water levels have sunk to 1.07 billion barrels in April, down from 1.24 billion barrels in January and against a three-year average of 1.16 billion barrels.

Dirty and Clean Tanker Volumes Fall

Dirty and clean tanker volumes have fallen 13% in the 10 weeks since the war in the Middle East began, compared with the prior 10-week period and year-earlier levels.

• Year-to-date, volumes in both markets are 5% lower than in 2025.
• Declines of 340 million barrels for dirty tankers and 147 million barrels for clean tankers, according to BIMCO.

Freight Rates Rise

Freight rates rose following the start of the war on Feb. 28, with rates still higher than prewar levels.

Energy Security Concerns

As disruptions through the Strait of Hormuz persist, they could have broader implications for global energy markets until a resolution is reached.