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Feature: Americas east-facing VLCC freight climbs 39% amid altered trade flows

September 17, 2022 Comments Off

VLCC freight rates for hauling crude from the US Gulf Coast to China have hit a two-year high at lump sum $10 million, attributable to burgeoning oil demand, a tightened position list and changing trade flows that began with the Russia-Ukraine war. Platts assessed the benchmark VLCC freight rate for the US Gulf Coast to China route, transporting 270,000 mt…