11.03.2020, 13:46
Freight Rates of the Largest Oil Tankers Rose to $ 200 Thousand
Source: OREANDA-NEWS
OREANDA-NEWS. The sub-freight rates of the largest oil tankers VLCC soared today over $ 200 thousand US a day, amid the rush of demand for tankers in the unfolding oil war between Saudi Arabia and Russia, the news agency reported.
The freight rates of supertankers were in the region of $ 18 thousand per day on Friday last week. Today, sub-freight transactions were recorded at rates up to $ 241,949 per day. Splash notes, however, that Saudi Arabia is prepared to pay more for more expensive vessels that are not equipped with scrubbers, as they are available immediately.
However, analysts warn that these levels of rates are "untenable", and most likely, transactions will not be implemented. Saudi Arabia started a price war after the failure of negotiations on the OPEC+ oil deal with Russia this weekend.
The freight rates of supertankers were in the region of $ 18 thousand per day on Friday last week. Today, sub-freight transactions were recorded at rates up to $ 241,949 per day. Splash notes, however, that Saudi Arabia is prepared to pay more for more expensive vessels that are not equipped with scrubbers, as they are available immediately.
However, analysts warn that these levels of rates are "untenable", and most likely, transactions will not be implemented. Saudi Arabia started a price war after the failure of negotiations on the OPEC+ oil deal with Russia this weekend.
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