CLARKSONS HELLAS – SnP WEEKLY
This week, tanker activity has increased compared with the previous few weeks across most segments. VLCC spot rates appear to have established a near-term floor of around $500,000/day, with the global average…
Oil majors count the cost of runaway tanker rates
Soaring tanker freight rates are taking an increasingly heavy toll on the world’s oil majors, with the latest quarterly results revealing billions of dollars in additional shipping-related liabilities, squeezed refining margins and losses on trading positions. Shell has disclosed a $5.4bn non-cash increase in its shipping lease liabilities during the third quarter, reflecting the extraordinary …
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