Atlantic Strength and Hormuz Risk Support VLCC Premiums – Firmer enquiry from the US Gulf, Brazil and West Africa is absorbing prompt VLCC tonnage and limiting the number of ships available to ballast towards the Middle East while owners considering Arabian Gulf employment must also factor in the security, insurance and operational exposure associated with Hormuz, increasing the cost of attracting vessels east.

Steady Demand and Shrinking Vessel Supply Pushes Spot Higher – During the second half of August, robust iron ore transportation demand in the Pacific, driven by all three mining majors, combined with localized storm disruptions that tightened vessel lineups led to elevated freight rates on the critical Australia-to-China route.