Gulf oil producers are finding new ways around the Strait of Hormuz, but bypassing the world's biggest oil chokepoint creates new risks.
VLCC Rates Go Ballistic as Hormuz Turns Into a Freight Jackpot
- VLCC prices are ballooning out of control (once again), pushing ***** sed earnings for a Middle East-to-China voyage beyond $500,000 per day as the flow of vessels moving out of the Gulf trickled down to a mere couple per day.
- Amidst news that Saudi Aramco resumed crude loadings at its key Ras Tanura export terminal, VLCC fixing costs for inside-Hormuz cargoes jumped to a whopping $31 million per voyage, as seen this week with the Mongolia Prosperity supertanker.
- Saudi Aramco loaded at least three VLCCs (Malaysia Prosperity, Algeria Prosperity and Singapore Prosperity) in the Gulf last week, all owned by Sinokor, offering them to Asian buyers via ship-to-ship transfers off Fujairah in the UAE on a prompt basis.
#prosperity #ship
VLCC Rates Go Ballistic as Hormuz Turns Into a Freight Jackpot
- VLCC prices are ballooning out of control (once again), pushing ***** sed earnings for a Middle East-to-China voyage beyond $500,000 per day as the flow of vessels moving out of the Gulf trickled down to a mere couple per day.
- Amidst news that Saudi Aramco resumed crude loadings at its key Ras Tanura export terminal, VLCC fixing costs for inside-Hormuz cargoes jumped to a whopping $31 million per voyage, as seen this week with the Mongolia Prosperity supertanker.
- Saudi Aramco loaded at least three VLCCs (Malaysia Prosperity, Algeria Prosperity and Singapore Prosperity) in the Gulf last week, all owned by Sinokor, offering them to Asian buyers via ship-to-ship transfers off Fujairah in the UAE on a prompt basis.
#prosperity #ship
5 days ago
