ShippingWatch

Oil shippers raise rates for key Middle East route

Tanker ship operators are charging higher rates to carry crude oil from the Gulf to China as the risk factor has escalated after Iran retaliated against the US for killing a top ranking major general.

Photo: GIUSEPPE CACACE/AFP / AFP

Owners of oil tankers are boosting their rates to haul crude on a key route from the Middle East as risks in the Gulf escalate after Iran retaliated against the U.S. killing of a top general.

Some shipowners are offering rates for supertankers carrying crude from the Persian Gulf to China at between 165 and 180 in Worldscale terms, according to shipbrokers and oil traders in Asia. There have been no fixtures reported at that level yet, they said, asking not to be identified because they’re not authorized to speak to the media.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

"Mixed lobbying" hinders Maersk from elite status on climate efforts

Think tank InfluenceMap has mapped out how well global companies like Unilever, Ikea and Maersk are performing in terms of meeting climate requirements and whether their words match their deeds. Ambiguous communication stands in the way of Maersk reaching the top, the think tank explains to ShippingWatch.

Danske Bank makes commitment to CO2 neutral loan portfolio by 2050

By 2050 at the latest, Danske Bank's loan portfolio must be fully CO2 neutral. The bank, which provides loans to shipping as well as the oil and gas sector and also supports the Poseidon Principles, isn't ready yet to set out short-term intermediate targets on the road towards CO2 neutrality.

Further reading

Related articles

Trial banner

Latest news

See all jobs