- Saudi Arabia’s oil production cuts have hit the tanker market so hard that owners of the biggest vessels effectively subsidize cargo deliveries on the industry’s main trade route.
- Supertankers delivering 2-million-barrel shipments of the kingdom’s oil to China are losing $736 a day for the privilege.
- While owners might, in practice, be able to mitigate such losses by ordering captains to sail the vessels slower.
- The reality is that some ships are losing money on Middle East-to-Asia deliveries.
https://mfame.guru/supply-cuts-hit-oil-tanker-market-badly/