The cost of shipping crude oil soared to record highs last month as the Iran war reshuffled trade routes and patterns and tied up more tankers in inefficient and lengthy voyages.

Supertanker rates soared in September to above $1 million per day on the Persian Gulf to China route—a record high.

The September record was soon smashed as freight rates soared by another 40% in the first week of October alone, to top $1.4 million per day on the Gulf to East Asia trip this week, according to data compiled by Bloomberg.

The increased flows of oil from the Strait of Hormuz, mostly thanks to ship-to-ship (STS) transfers in the Gulf of Oman, are tying up supertankers for weeks waiting for the transfers outside the Strait, limiting the availability of very large crude carriers (VLCCs) for the other global key oil trade routes, such as the U.S. Gulf Coast to Asia.

The inefficient oil loadings in the Middle East and the very tight supertanker market resulting from these have created a ripple effect extending to the market of smaller vessels, Aframax and Suezmax, whose demand and daily rates have also surged amid a shortage of supertankers.

Thus, the Iran war and the oil crisis has also turned into a full-blown shipping crisis, with record rates being smashed nearly every day. Sky-high rates add millions of U.S. dollars to the cost of a single crude oil cargo, further fueling oil and fuel prices.

Related: U.S. Oil Drilling Continues to Inch Upward

The shuttle-shipping through the Strait of Hormuz is “very inefficient,” Russell Hardy, chief executive officer at the world’s biggest independent oil trader, Vitol, said at the Energy Intelligence Forum in London this week.

“We started this conflict with a crude crisis. Then it turned into a product crisis. Now we have more crude oil coming out of the Middle East, but it is turning into a shipping crisis,” Hardy added.

“There is really not quite enough shipping to go around,” the executive noted.

Rates on the U.S. Gulf-to-Japan route are skyrocketing and one supertanker has been reportedly offered at a total fee of $82 million for the journey, up by 50% from just three weeks ago, Bloomberg reports.  

Commodity trading giant Trafigura has reportedly chartered a supertanker to ship crude from the U.S. Gulf Coast to China at a total fee of $76 million, a source with knowledge of the fixture told CNBC this week.

The $76-million tanker fee is ten times higher than $7 million to $10 million in pre-war times. This suggests the freight cost of the journey is now about $38 per barrel of oil.