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 Strait of Hormuz.
The benchmark Middle East Gulf-to-China rate for a very large crude carrier (VLCC) jumped to as high as $510,000 per day on Monday, according to data from the Baltic Exchange of tanker rates compiled by Bloomberg.
This was the highest daily rate for shipping…
Trump declares 'Economic D-Day' on Iran
- Will declare Strait of Hormuz 'US territory' after defeating Iran: Trump Business Standard —
- Iran hits back at Trump’s Strait of Hormuz claim, says ‘It will remain Iranian’ Malay Mail —
- Oil slick threatens Iran’s coast as Hormuz shipping crisis deepens Malay Mail —
- Trump threatens to bomb Oman if it gets in way of Iran deal Al-Monitor —
- U.S. conducting stealth operation to transport oil through Hormuz Axios —