The Spike in Oil-Tanker Rates May Be Over, But a Boom Is Coming

By Olivia Konotey-Ahulu and Firat Kayakiran (Bloomberg) --A surge in the cost of hiring oil tankers last month may already seem like a distant memory, but the rally was enough to convince analysts monitoring the industry’s fortunes that a couple of boom years are on the way. Daily earnings for very large crude carriers, the market’s biggest vessels, will jump to $51,000 next … [Read more...]

Geopolitical Risks Send Supertanker Rates to Record Levels

By Olivia Konotey-Ahulu and Firat Kayakiran (Bloomberg) --Nothing right now is stopping a surge in oil tanker rates that’s given owners of the vessels one of the biggest boosts in years. Rates have rallied so high that a secondhand supertanker could theoretically pay for itself in a couple of voyages, according to estimates from Clarkson Platou Securities AS. A normal … [Read more...]