Higher Freight Rates Add $5.4 Billion to Shell's Debt
Shell said freight rates added $5.4 billion to shipping lease costs in the third quarter versus the previous three months, feeding into net debt. TotalEnergies said freight rates cut into prices for its liquid fuels.
Shell LSE:SHEL said on Thursday that soaring freight rates have added $5.4 billion to its shipping lease costs in the third quarter compared with the previous three months, feeding its net debt, while TotalEnergies EURONEXT:TTE sees them cut into the prices it gets for its liquid fuels.