Energy · 2 views
Supertanker Rates Hit Record $1.4 Million a Day
The oil crisis has extended into the shipping sector with a large tanker fleet tied up in ship-to-ship transfers outside the Strait of Hormuz, pushing global freight rates to record highs and reducing vessel availability for other routes.
Summary
The oil crisis has extended into the shipping sector with a large tanker fleet tied up in ship-to-ship transfers outside the Strait of Hormuz, pushing global freight rates to record highs and reducing vessel availability for other routes. Supertanker rates have soared in recent weeks, and hit a record-high of $1.4 million per day on the Gulf to East Asia trip, according to data compiled by Bloomberg .
AI summaries can be wrong sometimes—always verify important details using the source article.
How AI & Automation are usedMore from Energy
Continue reading recent Energy coverage
- Tesla leaned on Dutch regulator to ease its FSD review, emails showContinue reading
- U.S. and Russia Discuss Reviving Russian Gas Sales to EuropeContinue reading
- Oil Jumps 5% as Iran Steps Up Attacks on Hormuz TankersContinue reading
- First Deep-Gulf Tanker Attack in Nearly a Month Hits Vessel off QatarContinue reading
Support HappeningNow
Independent AI-powered news analysis is reader-supported. Your contribution helps cover infrastructure, summaries, and continued platform development.
Support HappeningNow