U.S. Gulf-to-China Supertanker Rates Slip From Record High
Photo: TokenPost
On Oct. 9, the daily rate for a very large crude carrier carrying oil from the U.S. Gulf to China slipped to $634,974, staying close to the prior day's record as disruptions near the Strait of Hormuz limited vessel availability. The TD22 benchmark covers a 270,000-metric-ton voyage from the Galveston offshore lightering area to Ningbo, China. It reached $637,675 per day on Oct. 8, the highest level since the route was introduced, before falling $2,701 the following day. The one-day decline offers limited relief to crude buyers and charterers.
Source: TokenPost
