Number Of VLCC Subjects Heading East Rise 46%

  • US crude exports to Europe rise to 2.05 million b/d for August
  • Europe number one US crude export destination taking 47% share in Q2

VLCC freight rates for hauling crude from the US Gulf Coast to China have hit a two-year high at lump sum $10 million, attributable to burgeoning oil demand, a tightened position list and changing trade flows that began with the Russia-Ukraine war, reports SP Global.

Russian-Ukraine War alters flows

Another factor leading to the increases in freight to Asia from the...

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