AI Summary

VLCC charter rates have surged to a record $1.27 million per day as ship‑to‑ship transfer capacity off Oman reaches its limit. The bottleneck follows Saudi Arabia’s decision to reroute crude flows away from the Yanbu port after Houthi attacks, according to unnamed trading sources and analysts cited by Reuters. The constrained offshore facility in Oman is now unable to accommodate additional transfers, tightening the market for large crude carriers.

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