ShippingWatch

Cheap oil sends tanker rates soaring

Spot rates for tanker vessels soar yet again due to the current geopolitical unrest. The sudden plunge in the oil price has significantly increased demand for VLCC tankers.

Photo: Edgar Su/Reuters/Ritzau Scanpix

Freight rates for supertankers soar big-time again on the back of the oil price war between Saudi Arabia and Russia.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
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

Tanker companies pay out massive dividends

Hafnia, Torm, Norden and Scorpio Tankers have seen big profits this year in a strong tanker market, which has been highly affected by Russia’s war in Ukraine. The carriers are now sending record-high dividends out to stakeholders.

Further reading

Related articles

Latest news

See all jobs