Bullets:
Tanker companies are booking record profits, as a result of the re-routing of the global energy trade.
The chaos after the closures of Hormuz and the Red Sea, and severe weather problems at the Panama Canal, are a boon to shipping companies who earn $1 million per day making longer transits.
Shipping firms are scrambling to find ships, and used vessels are selling at tens of millions of dollars above new builds, delivered under old contracts.
Orders at Chinese shipyards are booming, up 2.7 times over last year, as China is the sole shipbuilder with sufficient capacity.
Skyrocketing transport costs are fueling inflation, as $26 per barrel is spent just to move crude to refineries.
Closing scene, Dali, Yunnan
Resources and links:
Tanker Rates Smash $1 Million a Day as Oil Shipping Crisis Deepens
https://oilprice.com/Energy/Crude-Oil/Tanker-Rates-Smash-1-Million-a-Day-as-Oil-Shipping-Crisis-Deepens.html
Oil Tankers Earn $1 Million a Day as War Leaves Ship Shortage
https://www.bloomberg.com/news/articles/2026-09-14/oil-tankers-earn-1-million-a-day-as-war-leaves-ship-shortage
Global Shipping Costs Explode as Hormuz Disruptions Hit Key Trade Routes
https://oilprice.com/Energy/Crude-Oil/Global-Shipping-Costs-Explode-as-Hormuz-Disruptions-Hit-Key-Trade-Routes.html
Energy Giants Are Betting Billions on a World of Longer Oil Routes
https://oilprice.com/Energy/Energy-General/Energy-Giants-Are-Betting-Billions-on-a-World-of-Longer-Oil-Routes.html
Wanted: Oil tankers at any cost as tensions in the Gulf trigger a global scramble
https://english.elpais.com/economy-and-business/2026-09-13/wanted-oil-tankers-at-any-cost-as-tensions-in-the-gulf-trigger-a-global-scramble.html
Panama Canal fees hit record high as El Niño and Iran war choke shipping
https://www.ft.com/content/38083cb5-3892-40a1-b90f-102109f96b17?syn-25a6b1a6=1
Panama Canal To Maintain 32 Daily Ship Transits Despite El Niño Drought Risks
https://www.marineinsight.com/panama-canal-to-cut-ship-transits-again-due-to-severe-drought-linked-to-el-nino/
A Shortage of Oil Tankers Is Threatening to Keep Gas Prices High
https://www.wsj.com/business/energy-oil/a-shortage-of-oil-tankers-is-threatening-to-keep-gas-prices-high-66b2675a
China shipbuilding orders nearly triple on Iran war windfall
https://asia.nikkei.com/business/business-trends/china-shipbuilding-orders-nearly-triple-on-iran-war-windfall
Asian Shipper Pays Record $5.3 Million to Cross Panama Canal
https://www.bloomberg.com/news/articles/2026-08-25/asian-shipper-pays-record-5-3-million-for-panama-canal-access
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