US-China supertanker freight cost eases from record, data shows
USO•The daily cost of chartering a supertanker to ship US crude to China fell to $634,974 on Friday, after reaching a record $637,675 on October 8. The rate was its first decline since September 8.
1. Freight rate declines
The TD22 benchmark for hiring a very large crude carrier to ship 2 million barrels of US oil to China slipped to $634,974 per day on Friday, after reaching a record $637,675 on October 8. Record freight rates are putting US crude out of reach for Asian refiners, prompting them to seek alternatives from the Middle East and Latin America, traders and shipbrokers said.
