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The Baltic Exchange TD3C index for the Middle East Gulf to China route passed $1 million per day for the first time, a record high. Rates on routes outside the Gulf also reached new highs, and the rally is spreading to Suezmax and Aframax tankers.
The surge follows severe restrictions on transit through the Strait of Hormuz.
Tanker rates reflect the cost of moving crude and refined fuels, and higher shipping costs feed into diesel and freight expenses for feed producers and grain traders. Constrained Hormuz flows also support crude prices and the energy costs behind fertilizer and biofuel economics.
worldports.orgZhang WeiliNov 14, 2026After 22 past bullish logistics events, Crude Oil (Brent) moved a median -0.7% over 5 sessions (45% higher; middle half -5.7% to +4.5%), and -1.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
