Cost Of Carrying Fuel from Mid East to Asia Grows 182% ...Middle East

The cost of carrying some fuels from the Middle East to Asia has jumped by 182% since January 12, Bloomberg reported on Tuesday, as the disrupted flow of traffic through the Red Sea continues to spook carriers. The rates that some vessels are now commanding to transport naphtha from the Middle East to Asia have nearly tripled to about $83,000 per day—up from $30,000 just 11 days ago. Naptha is used in the manufacturing of gasoline and some plastics. Multiple carrier companies have flat-out refused to make the journey through the Red Sea,…

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