Replacing Iran’s Lost Oil Supply a Boon for Supertankers

By Alex Longley (Bloomberg) -- Higher OPEC oil production and longer voyages are propelling shipowners back to good times. Just a month ago, hiring a supertanker for the benchmark Middle East Gulf-to-China route cost about $18,000 a day. That almost tripled to $51,000 a day as of Monday, the highest level since at least early 2017. The surge has come as the ships … [Read more...]