Replacing Iran’s Lost Oil Supply a Boon for Supertankers

Capt. John

By Alex Longley (Bloomberg) — Higher OPEC oil production and longer voyages are propelling shipowners back to good times. Just a month ago, hiring a supertanker for the benchmark Middle East Gulf-to-China route cost about $18,000 a day. That almost tripled to $51,000 a day as of Monday, the highest...

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