Reuters: The cost of oil tanker freight has increased dramatically

January 15th. /MEDIA TALK/. The cost of oil transportation is increasing due to the expected reduction in global supplies due to US sanctions against the Russian so-called "shadow" fleet, as well as the growing interest on the part of traders in oil supplies from the Middle East to Asia. This is reported by the Reuters news agency, citing industry sources. The cost of tanker freight for oil transportation increased by about 15-35%.

Shell has leased three large oil tankers, each of which can hold up to 2 million barrels, at a Worldscale rate of 70. These vessels will be used to transport oil from the Middle East in early February.


Photo: ru.freepik.com

The Chinese oil refinery Shenghong Petrochemical has also leased two such vessels at a similar price. Worldscale is a unified system for determining the oil transportation tariff for a specific vessel, the number indicates the cost of shipping one ton of crude oil in US dollars.

According to traders, the price of renting tankers for the transportation of "clean" cargoes, including automotive, aviation and diesel fuel, has increased by about 10% since the beginning of this week. Next month, experts expect an increase in market demand for additional tankers for transporting oil from Saudi Arabia, which may also lead to an increase in tariffs.