#FreightRates

VLCC Rates Enter ‘Stop-the-Press’ Territory as China Demand and Hormuz Crisis Ignite Tanker Market

The Very Large Crude Carrier (VLCC) market has entered exceptional territory, with freight rates surging simultaneously across both sides of the Suez Canal. Strong Chinese crude buying, rapidly tightening vessel availability and the continuing security challenges around the Strait of Hormuz are combining to create one of the most dramatic […]

August 21, 2026August 21, 2026Marine News Update

CMA CGM Introduces Emergency Fuel Surcharge as Strait of Hormuz Tensions Push Bunker Costs Higher

Global container shipping giant CMA CGM has announced the introduction of an Emergency Fuel Surcharge (EFS) across its worldwide services following the renewed escalation of hostilities in the Strait of Hormuz, one of the world’s most strategically important maritime trade corridors. According to an official company notice dated Tuesday, the […]

July 22, 2026July 22, 2026Marine News Update