Mmastodon WorldPolitics first seen 8 h ago, last 7 h ago, peak #2
Second-hand supertankers now cost more than new ones
Original: Meanwhile the price for second-hand supertankers has exceeded the price of new vessels; Middle East states are seeking t
Prices for second-hand supertankers have risen above the price of newly built vessels, a reversal driven by surging shipping costs. Middle East states are moving to secure their own tanker fleets, allowing state oil companies to reduce their reliance on third-party shipping firms and take direct control of how their oil is moved to market.
Why now: Shipping costs are climbing sharply, prompting oil-producing states in the Middle East to buy ships to protect their export independence.
Middle Eastsupertankersstate oil companies
Evidence
- Meanwhile the price for second-hand supertankers has exceeded the price of new vessels; Middle East states are seeking to secure their own fleets as the price of shipping continues to rise, allowing state oil companies to shift from a dependence on third-party shipping firms.… · ChrisMayLA6@mastodon.me.uk · 10
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