Supertanker Rates Soar As Chinese Refiners Ramp Up Imports ...Middle East

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Supertanker Rates Soar As Chinese Refiners Ramp Up Imports
source : OILPRICE ( Middle East ) () 37
The day rate for chartering a very large crude carrier (VLCC) topped $100,000 this week, with average time charter rates now at their highest in more than two years, Lloyd’s List reported on Friday, citing data from the Baltic Exchange. The day rates for hiring supertankers have seen an uptick this week as signs have emerged that Chinese refiners are starting to increase purchases of crude oil, according to Lloyd’s List. The latest batch of Chinese crude import quotas is likely helping the ramp-up of crude buying amid tentative signs…

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