Hiring fees for ultra-large oil tankers jump over 700% amid rising attacks

The Baltic Exchange reported that hiring a single ultra-large crude carrier now costs over $77 million, a rise of over 700% from the 2025 average. The spike follows a series of assaults on tankers, including a drone strike that sank a vessel in the Black Sea and attacks near Qatar and in Bulgarian waters. Meanwhile, U.S. attempts to curb Iranian oil shipments through sanctions on maritime service firms have proved ineffective, according to a tanker operator who warned that new companies can quickly replace those targeted.