(Bloomberg) — Supertankers are racing to the Middle East to cash in on soaring fees for carrying oil through the Strait of Hormuz, exacerbating a global shortage of vessels that...

Indian refiners have cut back Russian crude purchases for November delivery, as rising competition from China pushes up prices at a time when buyers can tap alternative shipments from the Middle East.

Trafigura Group bought seven oil tankers from New York-listed SFL Corp., in the latest example of how trading houses and state energy companies are acquiring vessels to ship crude and products.

Maritime traffic through the Strait of Magellan jumped more than 70% both in August and September from year-ago levels as ships diverted from the drought-stricken Panama Canal, Chilean Navy data requested by Bloomberg show.

Qatar has amassed a fleet of empty liquefied natural gas tankers in the Persian Gulf, a sign that one of the world’s biggest exporters of the fuel may be preparing to boost shipments through the Strait of Hormuz.

Volare Shipping Ltd. jumped on its first day of trading in Oslo on Monday after the spin-off arm of Trafigura Group Pte. became the latest in a spree of tanker listings in the Norwegian capital.

Attacks on commercial vessels off the Black Sea’s western coast are on the rise, threatening already-choked trade flows in the region while testing NATO’s readiness to react.

The US blockade of Iran is keeping dozens of laden tankers bottled up along the nation’s coast, while others outside the Persian Gulf are holding off Sri Lanka, according to United Against Nuclear Iran.