February 3, 2020 / 11:12 AM / 23 days ago

VLCC freight rates at mid-Sept low as virus hits Chinese oil demand

LONDON, Feb 3 (Reuters) - Freight rates for very large crude carriers (VLCC) on the key Mideast Gulf and U.S. Gulf to Asia routes have fallen to their lowest since mid-September as the coronavirus outbreak hit Chinese demand, according to ship brokers.

“The market has gone back to what it was before the COSCO sanctions came in,” a ship broker said referring to U.S. sanctions on subsidiaries on the state-owned Chinese shipping firm. (Reporting by Julia Payne, Ahmad Ghaddar and Roslan Khasawneh; Editing by Edmund Blair)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below