- The charterer of a very-large crude carrier is racking up charges of between $30,000 to $80,000 a day to park the tanker off Suez waiting for the canal to open, according to data published by Fearnleys, a shipbroker
- The cost to ship a 40-foot container from China to Europe has climbed to about $8,000, almost quadruple the figure a year ago.
- Earnings for very large crude carriers, or VLCCs, hauling oil from the Middle East to China rose to $1,371 a day, registering a profit for only the second day in more than seven weeks. And that route isn’t even affected by the logjam in the Suez Canal.
- Suezmax vessels, which typically carry 1 million barrels of oil, are now getting about $17,000 a day, the most since June 2020.
- Caterpillar Inc., the U.S.’s largest machinery producer and one of the biggest in the world, is facing shipment delays due to the Suez Canal blockage and is even considering airlifting products if necessary.
To read the full story, Subscribe Now at just Rs 249 a month
Already a subscriber? Log in
Subscribe To BS Premium
₹249
Renews automatically
₹1699₹1999
Opt for auto renewal and save Rs. 300 Renews automatically
₹1999
What you get on BS Premium?
-
Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
-
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Need More Information - write to us at assist@bsmail.in