15OCT2018 - NEWS - With the rise in tanker rates U.S. oil exports to Asia may fall further

Rising shipping rates have increased the costs of shipping oil from the United States to Asia and may further the restrict the flow of U.S. oil to the region later this year. Freight rates for tankers that carry crude oil have soared globally, buoyed by peak seasonal demand, weather disruptions and higher bunker fuel costs. The cost of chartering a Very Large Crude Carrier (VLCC) capable of carrying 2 million barrels of crude from the U.S. Gulf coast to South Korea and Japan rose to above $7 million this week, $1 million to $2 million higher than the previous week.

Published by Editor - www.Livebunkers.com at 15-Oct-2018 07:05:40 [UTC] , contact editor at editor@livebunkers.com