Oil tanker rates from the Middle East to Asia are EXPLODING: Daily tanker rates have surged to $1.068 million for voyages to India, $906,000 to China and $904,000 to Japan. Meanwhile, at least 10 empty very large crude carriers, alongside several Suezmax tankers, have stopped or reversed course while approaching Fujairah in the UAE amid escalating Iranian attacks. This threatens a key workaround that has helped Persian Gulf oil exports recover toward prewar levels, as shuttle tankers carry crude through the Strait of Hormuz to larger vessels waiting outside the waterway. The system is becoming harder to sustain as tanker availability tightens, ship-to-ship transfers keep vessels occupied for longer, and rising security risks make routes through the region more costly. If empty supertankers continue retreating, fewer receiving vessels could be available, forcing shuttle tankers to remain occupied longer and slowing crude shipments. The disruption comes as tanker availability is already tight, pushing shipping costs to record levels. The risk for the global economy is no longer just higher oil prices, but whether enough tankers will be willing and available to move the oil.