When I posted yesterday about the increases in rates and insurance being what translates to maintained higher prices for businesses and consumers, this is what I meant.
This is what happens when dangerous operations caused by #TheHormuzCrisis are compounded by instability in the Red Sea.
@mercoglianos.bsky.socialTanker rates, already higher than most imagined possible, just spiked again
🚢US-Europe suezmax index jumped 150% w/w to $577,792 per day; West Africa-Europe suezmax index rose 145% w/w to $567,138 per day
www.lloydslist.com/LL1158620/Ta...
lloydslist.com
Tanker rates, already higher than most imagined possible, just spiked again
Crude tanker markets hit a tipping point in mid-September, surging to a new level as more crude exited the Strait of Hormuz. Over the past three days, rates crossed another tipping point, spiking even higher due to the lagged global ‘cascade’ effect