Clean product tanker rates on US bound trade almost doubles

Clean product tanker rates on US bound trade almost doubles after pipeline attack


Clean product tanker rates on US bound trade almost doubles after pipeline attack
The closure of the Colonial pipeline which runs from the US Gulf to the US East Coast, has caused a spike in oil product tanker rates on trades to and from the region. Earnings on the Rotterdam to New York trade for a Handysize tanker capable of carrying about 280,000 barrels of oil, jumped from USD 5,591 per day on 7 May to USD 10,833 on 10 May. This is because gasoline is in high demand and gas stations are being emptied by consumers worried about supply.
An even more impressive increase came on the US Gulf to North Europe trade where rates rose from negative USD 65 per day on 7 May to USD 8,118 per day on 10 May.

Related Keywords

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