Asian refiners face margin squeeze from record tanker costs
The cost of shipping oil in supertankers has reached record highs, putting pressure on profit margins for Asian oil refiners who rely heavily on Middle Eastern crude, the International Energy Agency said in a monthly report. Asian refiners have encountered the highest transportation costs as cargoes move through the Strait of Hormuz to secondary tankers ...
We haven't written up this one. Hellenic Shipping News has the full story — the link below goes straight to it.