VLCC rates skyrocket past $400,000/day – all-time highs amid Strait of Hormuz naval escort plans

VLCC spot rates have surged to never-before-seen levels above $400,000/day, dramatically increasing the cost of crude oil transport from the Persian Gulf for charterers and integrated supply chains. A reported Trump administration plan to provide US naval escorts through the Strait of Hormuz may entice risk-tolerant owners back into the trade lane, but operational and war-risk insurance uncertainty remains extreme. Logistics operators should urgently review voyage charters, lock in available tonnage, and stress-test supply continuity for Gulf-origin crude and refined products.