By: Editorial Team, StoneX Media
Oil tanker disruption is accelerating changes in global trade routes as geopolitical tensions reshape energy logistics. The closure of the Strait of Hormuz has halted a critical share of crude exports, forcing vessels to reroute across longer and more complex pathways. This shift is reducing efficiency across shipping networks while increasing operational risk. Consequently, freight markets are becoming more volatile and costly for participants.
Tom Beney, Senior Vice President of Ocean Freight at StoneX, has extensive experience navigating tanker markets through periods of geopolitical disruption. His role overseeing global freight operations provides direct insight into how supply shocks translate into shipping decisions and risk allocation.
Oil tanker rerouting is increasing volatility in freight markets as supply routes are rapidly restructured. The scale of disruption is clear as Beney explains "all of a sudden we stop 20 million barrels of oil coming out", highlighting the sudden loss of supply. Consequently, vessels moved toward regions such as West Africa, Brazil, and the United States, pushing freight rates higher in the short term. However, as reduced supply lowered overall transport demand, crude tanker rates began to ease while uncertainty remained elevated. This volatility complicates planning for traders and refiners managing both logistics and pricing risk.
Shipping contracts are shaping how financial risk is distributed across the oil trade during disruption. Beney notes that "we have what's called war risk clauses", which define responsibility for insurance, delays, and operational costs. When contracts are active, charterers typically absorb these costs, but shipowners without contracts face significant financial exposure. As a result, some operators may take greater risks to restore revenue flows under pressure. This uneven distribution of risk is influencing operational decisions and affecting supply continuity.
Fuel shortages are pushing product tanker demand higher as refined supply tightens across global markets. Beney highlights the severity by stating that "Europe is running out of jet fuel", signaling downstream pressure. As crude disruptions limit refinery output, demand for transporting diesel and jet fuel has surged significantly. Consequently, smaller tankers are being rerouted through constrained routes such as the Panama Canal, increasing congestion and costs. This demonstrates how crude supply disruption cascades through the broader energy system.
Oil tankers are being rerouted due to the closure of key routes like the Strait of Hormuz, forcing operators to find alternative supply paths.
Costs depend on contract terms. Charterers typically pay when contracts are active, while shipowners bear losses when vessels are idle.
Product tanker demand is rising due to shortages of refined fuels such as diesel and jet fuel across global markets.
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--- Written by Lindo Xulu, StoneX TV Journalist
--- Expert: Tom Beney, Senior Vice President of Ocean Freight at StoneX
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