Escalating Iran Conflict Drives Up Global Oil Tanker Rates

Geopolitical tensions involving Iran have severely disrupted maritime logistics, transforming Very Large Crude Carriers (VLCCs) into highly lucrative assets with daily earnings soaring to $650,000 on key routes.

28 Aug, 23:15 — 28 Aug, 23:15

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zerohedgeLow5d ago

The Iran War Has Turned VLCCs Into $650,000-A-Day Assets

The Iran War Has Turned VLCCs Into $650,000-A-Day Assets Authored by Julianne Geiger via OilPrice.com, More Gulf oil is moving again. Getting it out now costs a fortune. Earnings on the benchmark Saudi Arabia-to-China supertanker route surged to a record $647,000 per day on Thursday, according to Baltic Exchange data cited by Bloomberg. That is more than ten times the rate a year ago-and nearly 27% above the $510,000 reached just ten days earlier. The spike comes as Persian G...

By Tyler Durden

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Escalating Iran Conflict Drives Up Global Oil Tanker Rates

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The Iran War Has Turned VLCCs Into $650,000-A-Day Assets

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