Oil Tanker Rates Surge as Attacks and Longer Voyages Squeeze Supply
ANZ says the cost to charter a very large crude carrier from the Persian Gulf to China has climbed to nearly $1 million a day from about $230,000.
ANZ said oil tanker freight rates have jumped as increased attacks and longer shipping routes tighten vessel availability in the Middle East. The daily cost of chartering a very large crude carrier to transport oil from the Persian Gulf to China has risen from about $230,000 to nearly $1 million.