Saudis' oil tanker spree drives 700 percent surge in ships' earnings

Saudi Arabia is chartering tanker vessels big-time as the oil kingdom prepares to unleash a flood of crude oil, a development that makes tanker freight rates soar.

BY ALEX LONGLEY, JACK WITTELS AND FIRAT KAYAKIRAN, BLOOMBERG

Saudi Arabia is snapping up more and more oil tankers as the kingdom prepares to flood the world with crude causing a surge in the cost of transporting crude.

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Saudis' oil tanker spree drives 700 percent surge in ships' earnings

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Cheap oil sends tanker rates soaring

VLCC rates could soar to USD 150,000 per day in April

Norway's state-owned export bank takes co-responsibility in offshore crisis

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Front page now

Navigare Capital cashes in from sale of several ships

Professionals: Shipping has a bad image and struggles to attract women

Lidl's shipping company makes changes to get more customers in store

Shanghai to set up first pan-Pacific green corridor with Los Angeles

Russia exempts gasoils, bunker fuel from export ban

Danish shipping company tops list of offshore wind turbine installations

Ukraine's grain exports halves in one year

Less freight risks mass layoffs at major UK port

Star Bulk buys back own shares from Oaktree Capital

Russia's new ban could send more countries on a frantic hunt for diesel

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

A simple reason could explain low dry bulk rates despite good demand

Further reading

Lidl's shipping company makes changes to get more customers in store

Dubai challenges Singapore as shipping's favorite city

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

Shanghai to set up first pan-Pacific green corridor with Los Angeles

A simple reason could explain low dry bulk rates despite good demand

Hapag-Lloyd rolls out Starlink internet to entire fleet

Jobs