The Strait of Hormuz will be more expensive for old oil tankers than new ones

The Strait of Hormuz will be more expensive for old oil tankers than new ones

🔹Financial Times: Disruption in the movement of oil tankers in the Strait of Hormuz raised the price of transporting oil to an unprecedented record of $1.2 million per day and for the first time raised the price of second-hand oil tankers higher than new vessels.

Some oil tankers built before 2016 traded for more than $150 million last week; While the average price of a new tanker is about 135 million dollars.

But what is the reason for the high price?

It takes several years to build a new tanker.

Buyers do not want to wait for a new tanker to be built.

Oil tanker owners prefer to maintain their fleet to get more rent.

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