$770,000 a Day: When the World's Busiest Strait Goes Silent
The Strait of Hormuz experienced a significant disruption when multiple vessels went dark, leading to a halt in shipping activity. This situation arose due to the withdrawal of war-risk insurance, causing shipping rates to skyrocket. The Clarksea Index reached an all-time high, with VLCC spot fixtures hitting a record $770,000 per day.
- ▪On March 1st, a bulk carrier named Run Chen 2 stopped broadcasting its location as it approached the Strait of Hormuz.
- ▪The Clarksea Index, which measures commercial shipping rates, surged to $53,190 per day, doubling in just a week.
- ▪VLCC spot rates on the Middle East-to-China route increased from under $90,000 per day to over $400,000 per day in a matter of days.
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try { if(localStorage) { let currentUser = localStorage.getItem('current_user'); if (currentUser) { currentUser = JSON.parse(currentUser); if (currentUser.id === 3838965) { document.getElementById('article-show-container').classList.add('current-user-is-article-author'); } } } } catch (e) { console.error(e); } VesselAPI Posted on May 23 • Originally published at vesselapi.com $770,000 a Day: When the World's Busiest Strait Goes Silent #shipping #hormuz #freightrates #maritime On March 1st, a bulk carrier called the Run Chen 2 went dark. Her AIS transponder stopped broadcasting at 9:30 PM local time, just as she approached the western mouth of the Strait of Hormuz. She reappeared about seven hours later in the Gulf of Oman. Whatever happened in between, she didn't want anyone to see.
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