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.

Several international media on Thursday report a big hike in the charter price for VLCC supertankers.

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

For Coca-Cola, chartering vessels is by no means a foreign concept

Coca-Cola made a splash when one of the company's execs recently informed that it had chartered three dry bulk vessels as a result of the strained supply chains. It's a frequently used method, the company tells ShippingWatch. Nike expects shortages of products in coming quarters.

Further reading

Related articles

Trial banner

Latest news

See all jobs