global-trade-and-energy3 days ago
Trafigura Pays $76 Million for U.S. to China Oil Haul Amid Middle East Crisis
Trafigura has chartered the supertanker Alexandros for $76 million to transport oil from the U.S. Gulf Coast to China, a rate far exceeding the pre-conflict norm of $7 million to $10 million. The vessel is scheduled to load around November 19, reflecting a surge in shipping costs driven by a global tanker shortage caused by the Middle East crisis. This premium equates to $38 per barrel for a 2 million-barrel cargo, highlighting the severe disruption in energy logistics.