Explainer: Disruptions in the global shipping industry

REUTERS: Oil shipping rates are soaring following a series of sanctions on a Chinese transportation giant and limitations placed on movement of Venezuelan crude oil tankers.The cost of chartering a supertanker to send crude oil from one country to another is rising sharply. A South Korean importer paid more than US$12 million in shipping costs for one crude shipment from the U.S. Gulf Coast.

for their alleged involvement in bringing crude oil from Iran. U.S. Gulf Coast exporters, in turn, have held back from chartering -linked vessels. operates more than 50 supertankers, the largest vessels for carrying crude oil or fuel products.Last week, Exxon Mobil Corp banned the use of vessels linked to oil flows from Venezuela in the last year, affecting some 250 ships. Exxon is the largest U.S. oil company and a major shipper, and its move caused rates to rise further, market sources have said.

and Exxon's moves.New maritime rules capping the amount of sulfur used in fuels for shipping have added to rising rates, because they raise the cost for shipowners who had in the past relied on"bunker fuel" - and as of Jan. 1 will have to switch to cleaner-burning marine fuel or diesel fuel.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Singapore poultry industry to get first smart and green factory with S$40m UOB loanSingapore Poultry Hub is setting up the first smart and green factory for the industry in Singapore with a S$40 million loan from United Overseas Bank (UOB). Read more at The Business Times.
مصدر: BusinessTimes - 🏆 15. / 51 اقرأ أكثر »

Samsung's stock is signaling a bottom for the global chip marketSEOUL (BLOOMBERG) - Investors have grown increasingly bullish on Samsung Electronics Co ahead of its Tuesday (Oct 8) results report, betting that the global memory-chip cycle is near a bottom.. Read more at straitstimes.com.
مصدر: The Straits Times - 🏆 8. / 63 اقرأ أكثر »