VLCC Earnings Hit a Record $1.27 Million a Day as Saudi Crude Jams Ship-to-Ship Transfers off Oman
Saudi Arabia is sending crude back through the Strait of Hormuz faster than the workaround can absorb it. The ship-to-ship transfer operations in the Gulf of Oman, where shuttle tankers hand their cargoes to long-haul supertankers outside the strait, are running at capacity. On…