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[Strait of Hormuz Conflict Pushes Tanker Profits to Record $36 Billion High] According to the Financial Times, profits in the global oil transportation industry reached a record $36 billion in the first quarter, driven by the impact of war and Iran's blockade of the Strait of Hormuz. The disruption of the shipping lane left 160 tankers stranded in the Persian Gulf, with daily charter rates for large tankers once soaring to $386,700 before recently falling back to a range of $55,000 to $95,000—still above the historical average of $30,000 to $40,000. CMB Tech CEO Alexander Saverys warned that the surge in profits has fueled a spike in new ship orders, which could lead to a market crash due to overcapacity. Currently, the global tanker fleet is predominantly controlled by Greek shipowners, with a total asset value of $66.4 billion.