The Iran War Has Turned VLCCs Into $650,000-a-Day Assets
8 Articles
8 Articles
The Iran War Has Turned VLCCs Into $650,000-a-Day Assets
More Gulf oil is moving again. Getting it out now costs a fortune. Earnings on the benchmark Saudi Arabia-to-China supertanker route surged to a record $647,000 per day on Thursday, according to Baltic Exchange data cited by Bloomberg. That is more than ten times the rate a year ago—and nearly 27% above the $510,000 reached just ten days earlier. The spike comes as Persian Gulf producers increase crude shipments through the Strait of Hormuz desp…
Gulf Oil Tankers Near $650,000 a Day as Iran War Disrupts Flows
Earnings for ships on the world’s benchmark oil tanker route approached $650,000 a day as the Iran war and a bold bet by a South Korean tycoon continue to reshape how barrels are transported across the globe.
Explosive rise in the cost of transporting oil from the Persian Gulf to Asia – Greek shipowners also in the game of “dark passages”
Iran conflict pushes VLCC rates to $650,000 per day amid Strait of Hormuz risks
Rising VLCC rates due to Iran conflict highlight potential global oil supply disruptions and increased geopolitical tensions in maritime trade. The post Iran conflict pushes VLCC rates to $650,000 per day amid Strait of Hormuz risks appeared first on Crypto Briefing .
Gulf oil tanker earnings near $650,000 a day as Iran war reshapes global shipping
The surge in tanker earnings due to geopolitical tensions and market consolidation could lead to increased global oil prices and economic instability. The post Gulf oil tanker earnings near $650,000 a day as Iran war reshapes global shipping appeared first on Crypto Briefing.
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