Oil tanker rates

LNG Transportation Costs Exceed $100,000 Day, Prices For Oil Tankers Still Climbing

  • In a typical year, winter demand in the Northern Hemisphere pumps up rates for tankers carrying crude oil, refined products and liquefied natural gas.
  • As this summer comes to a close, tanker rates are already up to levels typically seen when snow is falling.

A recent news article published in the Freight Waves states that LNG shipping rates top $100,000/day, oil tanker rates still rising.

Six-figure LNG shipping rates

LNG shipping is being heavily impacted by the Ukraine-Russia war, which...

https://mfame.guru/lng-transportation-costs-exceed-100000-day-prices-for-oil-tankers-still-climbing/

Tanker Rates Soar As Crude Oil Shipping Demand Increases!

According to a Reuters report, shipping sources have said that a surge in demand to ship the flood of crude oil unleashed by Saudi Arabia and its OPEC peers is sending freight rates surging and forcing buyers to seek out space on smaller tankers with the largest ones booked.

What happened?

Freight charges to ship oil in Suezmax tankers, which can hold about 1 million barrels, have in some cases increased ten-fold amid a shortage of very large crude carriers (VLCCs) capable of carrying as much as...

http://mfame.guru/tanker-rates-soar-as-crude-oil-shipping-demand-increases/

Fleeting Surge in Oil Tanker Rates Could Cause a Boom in Market

A surge in the cost of hiring oil tankers last month may already seem like a distant memory, but the rally was enough to convince analysts monitoring the industry’s fortunes that a couple of boom years are on the way, reports Bloomberg.

Freight rates spike

Daily earnings for very large crude carriers, the market’s biggest vessels, will jump to $51,000 next year, according to a survey of 11 analysts by Bloomberg this month. Their estimates are also up by 20% from what they were anticipating as...

http://mfame.guru/fleeting-surge-in-oil-tanker-rates-could-cause-a-boom-in-market/