cross-posted from: https://news.abolish.capital/post/85871

Crude shipments are recovering, but damaged refineries, scarce diesel, and costly passage through Hormuz keep the fuel bill high.

By 7 October, some tanker captains crossing the Strait of Hormuz were earning the equivalent of as much as $100,000 a month, with bonuses of up to $50,000 for each trip. War-risk insurance for a supertanker could reach $20 million for a voyage into the Persian Gulf.

For shipowners, these were no longer routine voyage expenses. Months of attacks had turned one of the world’s busiest energy corridors into a costly commercial gamble. Tankers could still pass through, but every voyage carried a financial burden far beyond pre-war conditions.

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