By April Lanux

Supertanker costs in the Middle East have hit ?all-time highs, according to shipping data and industry sources on Tuesday, as the U.S.-Iran conflict intensifies with Tehran attacking ships passing through the ?Strait of Hormuz.

Shipping through the Strait between Iran and Oman, which carries around one-fifth of oil consumed globally as well as large quantities of liquefied natural gas, has ground to a near halt after vessels in the area were hit as Iran retaliated against U.S. and Israeli strikes.

The disruption and fears of prolonged closure ?have caused oil and European natural gas prices to jump, with Brent crude futures up nearly 10% this week as ?the conflict triggered multiple oil and gas shutdowns in the Middle East.

The benchmark freight rate for the very ?large crude carriers (VLCCs) used to ship 2 million barrels of oil from the Middle East to China, also known as TD3, ?rose to an all-time high of W419 on Monday on the Worldscale industry measure used to calculate freight rates, or $423,736 per day, LSEG data ?showed.

The rate had doubled from Friday, extending gains from a six-year high hit last week, after the U.S. and Israel attacked Iran and killed Supreme Leader Ayatollah Khamenei on Saturday.

Iran has responded by attacking Gulf countries, prompting precautionary shutdowns at oil and gas facilities across the Middle East.

An Iranian Revolutionary Guards senior official said on Monday that the Strait ?of Hormuz was closed and Iran would fire on any ship trying to pass, Iranian media reported.

LNG SHIPPING RATES JUMP

Daily freight rates for LNG ?tankers jumped more than 40% on Monday after Qatar halted production.

Atlantic rates rose to $61,500 per day on Monday, up 43%, or $18,750, from Friday, according ?to Spark ?Commodities, a pricing assessment agency for LNG shipping. Pacific rates rose to $41,000 per day, up 45%, or $12,750, from Friday.

Fraser Carson, principal analyst for global LNG at energy consultancy Wood Mackenzie, said spot daily LNG shipping rates could rise above $100,000 this week on tight supply.

"Vessel availability for the rest of March is considered weak as cargo operators try to work through the backlog created by weather disruptions ?during February," he said.

"There will ?be very strong competition for ?any available vessels." Until safe passage through the Strait of Hormuz can be assured, shipping will remain idle, Carson said.

An oil shipbroker who declined to be named due to company policy said it was very ?difficult to assess shipping rates in the Gulf as several shipowners had suspended operations indefinitely.

Meanwhile, bunker sales at ?Fujairah, a major ?bunkering port in the United Arab Emirates, have slowed as the conflict disrupted fuel supply, spurring a jump in prices and potentially shifting demand to other ports including Singapore.

South Korean shipping firm Hyundai Glovis (086280.KS), opens new tab said on Tuesday it was preparing contingency plans including securing alternative routes and ports.

South ?Korea's maritime ?ministry issued a notice to South Korean shippers with vessels sailing in the ?Middle East, asking them to refrain from business operations in the region, an official told Reuters on Tuesday.

By Jason Mannet

An interstellar visitor once again reminds humanity of the vastness and dynamism of our cosmic neighborhood. Comet 3I/ATLAS, a rare object from beyond our solar system, is making its closest approach to Earth this week — albeit at a comfortably distant margin that poses no threat to the planet.

Discovered on July 1, 2025, by NASA’s ATLAS survey telescope in Chile, 3I/ATLAS is only the third confirmed interstellar object ever detected passing through our solar system, following ‘Oumuamua in 2017 and 2I/Borisov in 2019. Its highly hyperbolic orbit shows that it came from outside our solar system, journeying across interstellar space for perhaps millions or even billions of years before its current visit.

A Close But Safe Encounter

The comet’s closest approach to Earth is expected around December 19, 2025, when it will still be more than 167 million miles (269 million kilometers) away — nearly twice the distance between Earth and the Sun. Scientists stress that while this is the comet’s nearest point to our planet in its outbound trajectory, it remains far enough to be harmless.

Though faint and invisible to the unaided eye, 3I/ATLAS can be tracked through telescopes and binoculars by dedicated amateur astronomers. Observatories worldwide have been capturing its motion and changing appearance in the night sky.

Scientific Interest & International Effort

Astronomers and space agencies are treating this rare flyby as an exceptional scientific opportunity. Instruments including NASA’s Hubble Space Telescope, ground-based facilities like the Gemini North telescope, and even interplanetary missions are contributing to a coordinated observation campaign. The U.N.’s International Asteroid Warning Network (IAWN) has been involved in tracking and sharing data about the comet’s position and behavior.

Notably, recent telescope images show the comet developing a striking green glow as it nears the Sun’s influence. This vibrant color comes from gases such as diatomic carbon (C?) being released from the comet’s icy nucleus and fluorescing when exposed to sunlight — a reminder of the dynamic chemistry at play even on objects from distant star systems.

What 3I/ATLAS Can Teach Us

Interstellar comets like 3I/ATLAS offer researchers rare glimpses into the building blocks and environmental conditions of other star systems. By studying its composition, tail structure, and outgassing behavior, scientists can compare these materials with comets native to our own solar system. These comparisons may yield clues about how planets and small bodies form in diverse stellar environments.

After sweeping past Earth’s neighborhood, the comet is expected to continue outward, eventually heading back into interstellar space and beyond. While it won’t return, its visit provides a once-in-a-lifetime chance to deepen humanity’s understanding of our place in the galaxy.