Shipping experts are ‘highly worried’ about rising military tensions in the Strait of Hormuz, surging rates, and the impact on energy-dependent Asia

//Shipping experts are ‘highly worried’ about rising military tensions in the Strait of Hormuz, surging rates, and the impact on energy-dependent Asia

Shipping experts are ‘highly worried’ about rising military tensions in the Strait of Hormuz, surging rates, and the impact on energy-dependent Asia

The cost of chartering very large oil tankers to sail through the Strait of Hormuz in the Persian Gulf may rise by as much as a third, as shipowners and charterers pass on rising insurance and fuel costs following recent tanker attacks that threaten a vital artery for global energy supplies, according to experts.Tim Huxley, director of Mandarin Shipping, said charter rates for supertankers, could go up by as much as US$10,000 per day, lifting the current benchmark for very large crude carriers …

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2019-06-21T02:30:03+00:00 June 21st, 2019|Business|Comments Off on Shipping experts are ‘highly worried’ about rising military tensions in the Strait of Hormuz, surging rates, and the impact on energy-dependent Asia