Saudi Arabia leases 14 giant oil tankers
Economy News - Baghdad
The Saudi National Shipping Company has leased up to 14 supertankers initially to ship crude oil to customers around the world, as the Kingdom begins to implement its pledge to increase crude oil production.
Sources in the shipping sector said that the boom in Bahri Reservations, which owns a fleet of 42 huge crude carriers, has contributed to the increase in freight rates on giant carriers more than twice as many as "rental fever" this week.
According to several sources in the field of maritime brokerage, the prices of hiring giant tankers on the Gulf-China line increased more than twice, to about 70 thousand dollars per day on Wednesday, from about 30 thousand dollars on Monday.
Both Saudi Arabia and Russia said they would increase production at the weekend, after a three-year agreement between them and other major oil producers collapsed on Friday, which pushed global crude prices down.