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US Hardens Sanction on Russian Oils, Shoring Up Tanker Freights Sharply; Mideast-China Routes Swell ~40%
The tightening of U.S. sanctions on Russia's oil trade has prompted traders to look for alternative vessels, leading to an upsurge in supertanker charter rates, Reuters quoted ...
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US Hardens Sanction on Russian Oils, Shoring Up Tanker Freights Sharply; Mideast-China Routes Swell ~40%
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The tightening of U.S. sanctions on Russia's oil trade has prompted traders to look for alternative vessels, leading to an upsurge in supertanker charter rates, Reuters quoted shipping agents and traders as reporting.

SINOPEC CORP (00386.HK)  -0.050 (-1.163%)    Short selling $89.71M; Ratio 37.523%   's trading arm, Unipec, chartered a number of supertankers last Friday (10th), shoring up the freight rate sharply for each VLCC carrying 2 million barrels of crude oil, report said.

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Among them, the daily freight rate for the Middle East-China route swelled 39% to US$37,800 since last Friday, the highest since October 2024, while the rate for Aframax-sized tankers transporting crude oil from the far eastern Russian port of Kozmino to northern China more than doubled to US$3.5 million yesterday (13th) as ship owners demanded enormous premiums. Even for shipments from the U.S. Gulf of Mexico to China, the rate spiked to US$6.82 million, up US$360,000 from the previous week.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-01-22 12:25.)

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