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Supertanker Rates Hit Record $1.4 Million a Day

The oil crisis has extended into the shipping sector with a large tanker fleet tied up in ship-to-ship transfers outside the Strait of Hormuz, pushing global freight rates to record highs and reducing…

  • Supertankers charge $1.4 million daily for Gulf to East Asia route
  • Ship-to-ship transfers strain global freight rates and vessel availability
  • Conflict and production impact drive up supertanker rates

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