Middle East crude shipping costs surge on higher freight rates and insurance premiums
Freight rates for modern tanker tonnage have soared almost 40% in the first market test for modern, very large crude carriers loading Middle East crude since last week’s attacks in the Gulf of Oman
By Michelle Wiese Bockmann
Oil companies face higher premiums to ship Middle East crude as freight rates surge and new charter agreements add hefty marine insurance costs to voyages.
But shipowners and maritime security companies cautioned owners and operators against paying for armed security guards to accompany any vessels transiting through the Strait of Hormuz, saying the risk of triggering a major international conflict was too high.
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Source: lloydslist.maritimeintelligence.informa.com
intel reports
Security and Risk Report 18/01/23
MAST’s security report issue 361 is available to read now. In the Gulf of Guinea, Nigeria is to introduce special courts to prosecute those involved
January 18, 2023 No Comments
