Supertanker shipping rates drop from record highs
Supertanker shipping rates fell this week from record highs as demand softened following recent Middle East attacks. Prospects of the US easing sanctions on the shadow fleet also weighed on freight costs, though rates remain elevated overall.
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Supertanker shipping costs fell during the week ending October 16 from record highs as demand softened across key Asian export routes. The decline follows a wave of vessel attacks in the Middle East and potential policy shifts by the United States.
