quote: $40/bbl or 40% of Asia’s landed crude cost is freight! | $80M to ship US crude to Asia.
VLCC freight for a 2M-ba | Hanami
quote: $40/bbl or 40% of Asia’s landed crude cost is freight! | $80M to ship US crude to Asia.
VLCC freight for a 2M-barrel US Gulf–China voyage has surged so high that the arbitrage window has shut. Asian refiners are looking to Middle Eastern and Latin American alternatives as tanker scarcity reshapes crude flows.