The Baltic Exchange opened consultations on how its tanker benchmark route should reflect the Strait of Hormuz disruption risk. When a main shipping lane becomes partially inaccessible, published benchmarks based on route assumptions can lag the real cost of transporting cargoes.
Disruptions around Hormuz have already put rerouting, waiting times and insurance loadings into daily freight pricing. For crude and tanker trade, a benchmark is now a market signal of route scarcity, not just a statistical reference.
TankerMap tracks 4,105 vessels globally, including 3,201 crude tankers and 904 LNG carriers. In a market where each extra day of rerouting matters, benchmark changes can quickly influence charter terms and cargo scheduling across major energy lanes.