Due to high demand for oil freight transportation, the cost of delivery of raw materials has begun to rise, followed by an increase in bills for idle tankers. Bloomberg wrote about it with reference to the message traders and ship brokers.
According to the agency's interlocutors, the daily freight rates of tankers for oil transportation have reached $100,000. It is the sum of money to be paid to a carrier or a charterer for a vessel's demurrage during loading and unloading.
As noted in the publication, in some ports, delays range from 7 to 10 days, which reduces profits from physical transactions with oil. The delays are caused by weather conditions or logistical problems that have arisen in the wake of the coronavirus pandemic.