India-bound oil tanker booked at 897% freight rate
Synopsis A supertanker has been provisionally booked to ship oil from the Persian Gulf to India at a staggering rate, nearly nine times the benchmark
Synopsis A supertanker has been provisionally booked to ship oil from the Persian Gulf to India at a staggering rate, nearly nine times the benchmark freight cost. This eye-watering price highlights a severe shortage of available vessels in the region. The high demand, driven by increased exports and the need to move stuck cargoes, is forcing buyers to pay premium rates, with ships taking weeks to return to the Persian Gulf.
The BriefWire