Strait of Hormuz disruption threatens extended decline in global tanker demand in International Shipping News 09/06/2026 Maritime disruptions through the Strait of Hormuz are reshaping global oil trade flows in ways that could threaten extended declines in tanker requirements, even as alternative supply routes partially offset lower seaborne volumes by adding to ton-mile demand, according to industry experts. Oil-on-water levels, a barometer for tanker requirements, have sunk. In April, they were 1.07 billion barrels, down from 1.24 billion barrels in January and against a three-year average of 1.16 billion barrels, data from S&P Global Commodities at Sea(opens in a new tab) showed. Dirty and clean tanker volumes have fallen 13% in the 10 weeks since the war in the Middle East began, compared with the prior 10-week period and year-earlier levels, shipping association BIMCO said May 28. Year-to-date, volumes in both markets are 5% lower than in 2025, equating to declines of 340 million barrels for dirty tankers and 147 million barrels for clean tankers, according to BIMCO. “Some of this disruption has been offset by alternative flows, including increased Red Sea exports as Saudi barrels move west to Yanbu, draws from inventories and the release of Russian barrels that have accumulated on the water,” Lois Zabrocky, CEO of tanker firm International Seaways, said May 7, while presenting the company’s first-quarter results. “These sources have not fully replaced the volumes typically moving through the [strait]. In the near term, the market is benefiting as it works to adjust to this dislocation,” she said. Freight rates rose following the start of the war on Feb. 28, with rates still higher than prewar levels. The Platts VLCC index for non-scrubber-fitted, non-eco vessels was $278,717/day on May 26, above an average of $75,881/day since the index launched in March 2024. After an initial spike, it has remained in a holding pattern. Energy security As disruptions thro