Suezmax freight rates for voyages from Novorossiisk’s Caspian Pipeline Consortium (CPC) terminal to the Mediterranean have reached a year high. Several factors contributed to this increase, reports S&P Global.
Freight Rate SurgeFreight rates on the 135,000 mt CPC-Med route have surged to their highest point since February 19, 2024, reaching $13.72/mt on March 12.
- This increase is attributed to a significant rise in CPC loading volumes, driven by increased production from Kazakhstan’s Tengiz oil...
https://mfame.guru/cpc-expansion-and-increased-volumes-drive-suezmax-rates-to-year-high/