Increased Asian freight costs have worldwide ripple effect

摘要

After the US imposed sanctions of two of China’s COSCO’s units,which was first reported in the Sept.30 Digest,freight rates increased in the Asia-Pacific region for US crude tankers.Earlier in the week beginning on Sept.30,suggested rates for VLCCs from the US Gulf Coast(USGC)to China increased to $9.8MM,compared to $6.2MM in the beginning of Oct.