Tankers: 40% of the Global Seaborne Crude Oil Exports Affected by the War in the Middle East
in Hellenic Shipping News
21/03/2026

The turmoil in the global tanker and energy markets from the current crisis in the Middle East could soon lead to a global issue, with 40% of total seaborne crude oil exports affected. In its latest weekly report, shipbroker Banchero Costa said that “in Jan-Dec 2025, global crude oil loadings went up by +2.0% y-o-y to 2223.8 mln tonnes, excluding all cabotage trade, according to vessels tracking data from LSEG. This year started even better, with global crude oil loadings in Jan-Feb 2026 up by +6.3% y-o-y to 362.5mln tonnes. Exports from the Arabian Gulf were up by +2.7% y-o-y to 142.6 mln t in JanFeb 2026, accounting for 39.3% of seaborne crude trade. From South America, exports increased by +30.1% y-o-y to 41.8 mln t, with a share of 11.5%. Exports from Russian ports (including oil of Kazakh origin) declined by -4.7% y-o-y in Jan-Feb 2026 to 34.3 mln tonnes, or 9.5% of global trade. From the USA, exports volumes declined by -3.8% y-o-y at 29.1 mln t in Jan-Feb 2026, an 8.0% share. From South East Asia exports increased by +56.7% y-o-y to 20.9 mln t in Jan-Feb 2026 (but this inevitably also reflects changes in the re-export of Russian origin volumes)”.
Source: Banchero Costa
According to Banchero Costa, “in terms of demand, the top seaborne importer of crude oil in Jan-Feb 2026 was Mainland China, accounting for 24.0% of global trade….
Full report available at the source:











