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Ship-to-ship transfers of Gulf crude spill over to India's Gulf of Kutch
A single VLCC transfer now takes up to six days, and freight is above USD 1 mn a day
The Gulf tanker crunch is turning ship pricing upside down
Availability is beating age in a tanker market starved for ships
New shipping service links India with Gulf ports
The service uses two vessels, the Marsa Virgo and the Marsa Zenith
Aramco weighs discounts on Oman ship-to-ship crude as exports climb
The handoff for most barrels is happening offshore, pushing up freight costs and transfer times
TODAY:DP World signs a USD 7 bn Nigeria port agreement + Lesha Bank buys 33 more jets from Avolon
What we’re tracking this morning regionally and around the world
SAR buys 782 railcars to haul Phosphate 3 + Asyad’s new bulkers come pre-booked
Stories on our radar this morning from around the region
Iran may drop its Hormuz fee demand to end the US blockade, but shipowners want more than a reopened strait
An agreement before the midterms looks unlikely, and the bill for ships trapped in the Gulf comes due in February
Washington and eight Gulf capitals are weighing a USD 10 bn fund to route oil and gas around Hormuz
The caveat: Not every Gulf state can build its way out of Hormuz
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