Shipping & Ports
Crude Freight Rates Surge on US-to-Japan Route as Tanker Costs Rise
A planned crude voyage from the United States to Japan shows a steep rise in long-haul tanker transport expenses compared with average rates recorded last year.
The oil supertanker Esteem Explorer is scheduled to transport approximately 2 million barrels of crude oil from the United States to Japan in late November. The single journey is projected to cost 81 million dollars.
This represents a substantial escalation in long-haul freight expenses on the route. During the previous year, an equivalent crude voyage between the two destinations averaged 9.1 million dollars.
The spike in oil transportation costs reflects broader shipping inflation that is placing upward pressure on consumer prices, extending from retail fuel pumps to grocery store goods.
Source attribution
Oil Shipping Costs Spike, Lifting Prices from Pump to GroceryGlobal Freight Briefing
The commodity and freight brief, twice weekly
Concise coverage of fuel oil, energy trading and shipping markets for professional readers. No promotional content.