Gulf-to-China Supertanker Rates Hit $510,000 a Day
The daily rate for chartering a supertanker to pick up crude oil from within the Persian Gulf and deliver it to China has surged this week to the highest level in two months as exporters seek vessels to deliver oil to Asian buyers despite a deteriorating security backdrop in the…
The daily rate for chartering a supertanker to pick up crude oil from within the Persian Gulf and deliver it to China has surged this week to the highest level in two months as exporters seek vessels to deliver oil to Asian buyers despite a deteriorating security backdrop in the…
BELLINGS Intelligence Score: 15
Why it matters
The surge in Gulf-to-China supertanker rates reflects notable market activity in energy shipping costs, but it is primarily a sector-specific development without broad systemic or credit-market implications.
Sources
OilPrice.com
Gulf-to-China Supertanker Rates Hit $510,000 a Day
The daily rate for chartering a supertanker to pick up crude oil from within the Persian Gulf and deliver it to China has surged this week to the highest level in two months as exporters seek vessels to deliver oil to Asian buyers despite a deteriorating security backdrop in the…