Supertanker Rates Double After U.S. Sanctions on Russian Oil Trade ...Middle East

OILPRICE - Economy
Supertanker Rates Double After U.S. Sanctions on Russian Oil Trade
source : OILPRICE ( Middle East ) () 65
Supertanker rates surged in the aftermath of the U.S. sanctions on Russian oil trade and shadow fleet tankers, with rates for the vessels capable of shipping 2 million barrels of crude doubling in one week. The rates for supertankers, or very large crude carriers (VLCC), soared by 112% to $57,589 per day on the Middle East-to-China route, per data from the Baltic Exchange compiled by Bloomberg. After the U.S. imposed the most aggressive sanctions yet on Russian oil exports, the daily rates for a supertanker on the U.S. Gulf Coast to China route…

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