Supertanker to China chartered for $76 million — CNBC

According to CNBC, trading company Trafigura has chartered the supertanker Alexandros for a voyage from the U.S. Gulf Coast to China for $76 million. A source familiar with the matter told the outlet that the vessel is expected to load around November 19.

The cost of the voyage has increased severalfold

Before the war in the Persian Gulf, the usual freight rate on this route ranged from $7 million to $10 million. Given that the tanker can carry 2 million barrels of oil, the cost of the voyage is about $38 per barrel.

As CNBC notes, global maritime shipping costs have risen sharply due to a shortage of available tankers caused by the war in the Persian Gulf.

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Oil transshipment in the Gulf of Oman

Oil producers in the Middle East use a transshipment system for exports through the Strait of Hormuz. A loaded tanker passes through the strait, after which the oil is transferred to another vessel in the Gulf of Oman, which heads to Asia with the cargo.

According to CNBC, this system reduces the risk of Iranian attacks and has contributed to the recovery of oil exports through the Strait of Hormuz. At the same time, significantly more vessels are needed to transport oil out of the region.