VLCC Booked from Persian Gulf to India at 897% of Benchmark Rates on June 24

According to shipping brokers, a very large crude carrier (VLCC) carrying approximately 2 million barrels was chartered on June 24 from the Persian Gulf to India at a rental rate of 897% of the World Tanker Nominal Freight Index—the highest rate so far this year. The vessel will be operated by South Korean ship owner Sinokor, with pricing based on the Persian Gulf-Singapore shipping route. The extraordinary rate reflects severe shortages of available tankers in the region.
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