Live Updates > Live Update Details
2026-09-16 05:20:09
According to data released by the Baltic Exchange, as of Tuesday, the cost of chartering a Very Large Crude Carrier (VLCC) to transport 2 million barrels of crude oil from the Gulf of Mexico to Asia was approximately $44.8 million, a record high. This record high freight rate is driven by multiple factors: firstly, global demand for cross-regional crude oil transportation has continued to rise recently, with Asian markets maintaining high levels of purchases of American crude oil; secondly, tanker capacity is currently tight, coupled with factors such as shipping efficiency and changes in fuel costs, all contributing to the increased transportation costs on this route. This increase in transportation costs will also affect the circulation pattern of crude oil trade to some extent, and the subsequent pricing and capacity allocation trends are attracting widespread attention within the industry.
