Saudi Shipping Giant Rents Supertankers as Freight Costs Skyrocket

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Saudi Shipping Giant Bahri has chartered supertankers to ship oil to Asia due to soaring tanker rates, indicating a potential increase in oil transportation costs.

Market Impact

Market impact analysis based on bearish sentiment with 80% confidence.

Sentiment
Bearish
AI Confidence
80%
Time Horizon
Short Term

Article Context

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Bahri, the national shipping carrier of the world’s top crude exporter, Saudi Arabia, has provisionally chartered at least five supertankers to ship oil to Asia amid soaring tanker rates not seen in six years. Bahri has hired at least five very large crude carriers (VLCCs), the supertankers capable of shipping 2 million barrels of crude each, as daily rates on the key Middle East-to-China route surged above $200,000 for the first time since 2020, Bloomberg reports. The freshly chartered supertankers are expected to ship Saudi crude…

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Original article published by OilPrice.com on February 25, 2026.
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