High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
The transfer of oil from the FSU began on the morning of February 8th to the KAI-EI, a very large crude carrier (VLCC) owned by Japanese firm, Kyoei Tanker Company.
The Khalij-e-Fars is a converted VLCC has a capacity of 2.2 million barrels, is 337 meters long, 60 meters wide and has 21 storage tanks.
The 50,000 gross ton vessel was installed last year and will replace the Surena FSU which was previously Iran’s largest offshore oil terminal servicing the Soroush and Nowruz oil fields.
The IOOC says the vessel has an export capacity of 1 million barrels per day which will likely serve Japanese, Chinese and Indian customers.
Join the 67,414 members that receive our newsletter.
Have a news tip? Let us know.