1 Day
Source:
بوابة أخبار اليوم
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Oil tanker rents hit weekly high
The prices for renting giant oil tankers (VLCCs) have experienced a significant rise, reaching nearly one million dollars per day. This is a very high level, equivalent to ten times the normal rates, which typically ranged between 50,000 and 150,000 dollars per day. These tankers are heavily used for transit through the Strait of Hormuz, despite most of them being older vessels aged between 15 and 25 years, which exposes them to potential risks such as targeting or bombing by the Iranian Revolutionary Guard. This surge in profits has led ship owners to operate these older vessels in the region to achieve quick gains, amidst fluctuations in crossing traffic that ranges between 7 and 20 ships daily.
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