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SHIPPING FROM CHINA
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SHIPPING FROM CHINA
ON TIME DELIVERY
January 19,2020
According to reports, Asian brokers and oil dealers have stated that VLCC freight rates in the Middle East to China continue to increase, and some VLCC freight rates are at least 14% higher than previous appointments. On January 8th, the freight rate of the VLCC from the Middle East to China was WS 165 to 180 points, higher than the WS 140 to 150 points earlier last week, and higher than the WS 122 points before the US military launched the air strike on January 3.
In addition to routes to China, shipowners may also increase freight rates on other routes from the Middle East to India, the United States, and Europe. Some experts point out that in this case, it is not surprising that shipowners charge higher freight rates because they expect that VLCC insurance freight may become higher and higher, prompting shipowners to consider profitability issues.
The soaring freight rates on this route indicate that the escalating conflict between the United States and Iran is affecting the global oil supply chain. Analysts believe that Asia is the world's largest oil importer, and even if Asian countries seek to diversify their crude oil supply sources, they still rely heavily on Middle East crude oil.
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