Crazy Train

27 Mar 2026: The unprecedented gyrations in the freight market. In 1980, legendary rockstar Ozzy Osbourne wrote the heavy metal classic “Crazy Train”. The lyrics, referencing the tense geopolitical climate during the cold war, include the phrase “going off the rails on a crazy train”. In the current day and age, amid another geopolitical crisis, this might as well refer to the tanker freight market going off the rails. Ever since the start of the Iran war, tanker freight rates have moved in dramatic and unexpected ways, illustrating the impact that the closure of the Strait of Hormuz has had on the market. In this week’s Tanker Opinion, we will try to illustrate some these movements, explain why they happened and give some thoughts on what may be next under different scenarios. Please fill out the form to read the article