SINGAPORE : The costs of chartering supertankers to move crude oil from the Middle East to Asia have jumped to the highest since April as more cargoes are being booked in June, according to industry sources and data on Refinitiv Eikon.The rate for a Very Large Crude Carrier (VLCC) from the Middle East to
SINGAPORE : The costs of chartering supertankers to move crude oil from the Middle East to Asia have jumped to the highest since April as more cargoes are being booked in June, according to industry sources and data on Refinitiv Eikon.
A flurry of bookings has tightened regional availability of ships in the short term, the sources said, while a surge in tanker rates from the West further buoyed sentiment in Asia. Similarly, the freight cost for a VLCC on the U.S. Gulf Coast-China route jumped nearly $500,000 to $9.34 million on June 14, according to Meiwa.
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