VLCC: In August, the cost of shipping crude oil on a VLCC fell 38% m-o-m, with sharp declines across all featured routes. The delivered cost of crude oil on the WAF-West Coast India route dropped 19% m-o-m to $49.3/bbl, with the proportion of the cost accounted for by freight falling to 3.6%. Suezmax: In much the same fashion as VLCC crude transport costs, the average cost of transporting crude on a Suezmax fell 23% m-o-m in August. The delivered cost of crude on all featured routes decreased markedly, partially as a result of a steep decline in the price of crude oil. Aframax: Whilst the average cost of shipping crude on an Aframax fell 12% m-o-m in August, the cost of transporting crude on the cross-UKC route remained steady m-o-m. However, the delivered cost of crude on this route fell 10% m-o-m to $56.6/bbl, on the back of a sharp decline in the price of Brent crude.
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