One of the world's largest supertanker operators has provisionally booked a vessel to carry crude from the Persian Gulf to India at nearly nine times the benchmark Worldscale rate, according to shipbrokers cited by Bloomberg. The fee, set at 897 Worldscale points, ranks as the highest tanker charter price recorded so far this year. No dates, buyers or ports were attached to the provisional fixture, brokers said, with the details still being finalized.
South Korean owner Sinokor supplied the vessel. The company has expanded aggressively in the tanker market since the end of last year and stayed active in the Persian Gulf through the recent Iran war, continuing to market its fleet even as other owners pulled back. Sinokor did not respond to calls or emails to its Seoul and Singapore offices.
Since an interim deal was signed between Iran and the United States last week, four empty Sinokor VLCCs have sailed into the Persian Gulf, along with three other supertankers from mainstream owners, based on transponder data reviewed by Bloomberg. Together those moves add at least 14 million barrels of capacity to the region. Brokers count roughly 65 empty very large crude carriers now within a week's sail of the Gulf of Oman, about 25 of them owned by Sinokor.
The 897 point booking signals confidence that flows through the Strait of Hormuz will continue even with traffic constrained. One Sinokor message seen by Bloomberg offered VLCCs to load Iraqi crude at the Basrah terminal by June 24, with the cargo set to pass through the strait. Worldscale rates are the standard benchmark for tanker charters and are reset each year by route; the Sinokor fee is pegged to the Persian Gulf to Singapore route.
The pricing comes as benchmark crude markets show their own signs of easing supply pressure. Brent for second month delivery traded higher than prompt cargoes on Wednesday, the first contango since the Iran war began in late February, while three stranded tankers carrying five million barrels exited Hormuz the same day. Owners are now repositioning vessels to capture rates that may not last if the diplomatic opening holds.