Supertanker chartered from Gulf Coast to China for $76 million, 10 times higher than pre-war level
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A supertanker was chartered to carry oil from the U.S. Gulf Coast to China for $76 million, roughly ten times the pre-war rate. The war in the Persian Gulf has reduced tanker availability and driven shipping costs sharply higher.
Shipping costs have exploded as the war in the Persian Gulf has led to a shortage of available tankers.
Conflict Markets Commodities Energy Shipping supertanker charter rates Persian Gulf war oil transport Gulf Coast China