Tanker hiring costs surge amid shipping threats
The Baltic Exchange reported Wednesday that the cost of hiring one very large crude carrier to move US oil to Asia topped $77 million, more than 700% above its 2025 average. Attacks on tankers rose across multiple theaters of war: one was struck off Qatar Wednesday, after a drone strike sunk an oil tanker off Russia's Black Sea coast, and two tankers were targeted in Bulgaria's waters Tuesday. US efforts to staunch the flow of Iranian oil through its shadow fleet network, often through sanctions, have faltered, with one tanker operator telling The New York Times that operators can simply start another company.
Why it matters: The link between maritime attacks, sanctions enforcement and the cost of moving crude places the episode within the briefing's energy security theme.