Rising numbers of clean-product tankers are switching to carry crude oil as the
Iran war reshapes shipping economics. About 68 LR2 vessels have converted so far
this year, up from 49 in all of 2025, according to Signal Ocean. Disruptions to
production and refining in the Persian Gulf have reduced demand for product
shipments, prompting redeployment. Around 296 LR2 tankers — roughly two-thirds
of the global fleet — are now transporting crude, the highest share since at
least 2019.
