Exxon Mobil Corp this week banned the use of vessels linked to oil flows from Ve...
FILE PHOTO: Logos of ExxonMobil are seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai/File Photo
Washington has imposed several rounds of sanctions on Venezuela this year to oust socialist President Nicolas Maduro, whose 2018 re-election has been dismissed by the United States and dozens of other countries as a sham. Some measures have led tanker operators to stop carrying oil for Venezuela’s state-run PDVSA oil firm.
Average freight earnings for supertankers on the closely-watched U.S.-China route jumped over $20,000 on Friday to $87,625 a day, the highest level since rates for the route were first published in March, Baltic Exchange data showed. Another ship broker who declined to be identified to avoid upsetting clients said Exxon’s directive may have a limited impact on freight rates. But he said those rates could go higher “if it spreads to other charterers beyond Exxon.”
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