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The $1 Million Tanker Was Just The Start: Every Crude Freight Index Hits Record High As Hormuz "Works" Too Well
The $1 Million Tanker Was Just The Start: Every Crude Freight Index Hits Record High As Hormuz "Works" Too Well
Just when we thought crude tanker rates couldn't go any higher, they did - again.
A week ago, a record million dollars a day charter for a supertanker was the punchline. Now it's the floor: the Baltic Exchange's TD3C, the benchmark Saudi Arabia-to-China VLCC route, hit yet another all-time high of $1.33 million per day on Monday, up 10% on the week and 21 times where it was a year ago!
But...
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