🔸 Financial Times: The value of old oil tankers exceeded that of newly built oil tankers

🔸 Financial Times: The value of old oil tankers exceeded that of newly built oil tankers

The Financial Times reported today that for the first time, the value of old supertankers surpassed that of newly built tankers as shipowners rushed into the market to buy huge old supertankers to take advantage of the chaotic market for astronomical freight rates in the Persian Gulf.

High freight rates from the Middle East to Asia for very large crude oil tankers, i.e. super tankers capable of carrying 2 million barrels of cargo, reached $1.2 million per day and increased the price of the tankers.

Irna Jahan