Middle East Oil Crisis Sends Supertanker Prices to Record Highs

Demand for tankers from Middle Eastern oil producers has pushed prices to an all-time high, the Financial Times reported today, saying both new and second-hand very large crude carriers reached prices of over $130 million in the second quarter of the year. Citing data from shipbroking company Braemar, the FT also said the prices for chartering a supertanker for a year have also hit the highest on record. “Physical control of assets is also important for some exporters in the Middle East,” Braemar’s head of sale and purchase, David…