For a sign of just how extraordinary oil shipping costs have become, consider this: It’s now more expensive to hire a ta | Hanami
For a sign of just how extraordinary oil shipping costs have become, consider this: It’s now more expensive to hire a tanker from the US to China than to launch a rocket into space.
That journey costs about $80 million, compared with $74 million for a standard SpaceX Falcon 9 launch, shipbroker Gibson said this week. The same amount of money could have bought a near-identical tanker outright earlier this year.
The eye-watering prices are the result of a global tanker shortage that is getting worse with every additional barrel of oil flowing through the Strait of Hormuz. #oott https://www.bloomberg.com/news/articles/2026-10-09/the-global-oil-tanker-shortage-is-getting-worse-by-the-day