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Oil Tanker Earnings Top $100,000-a-Day Mark

  • Middle East-China earnings highest since at least early 2017
  • U.S. sanctions on Chinese shippers, IMO rules seen as drivers

Oil-tanker earnings surged above the $100,000-a-day marker on the benchmark route as a looming ship-fuel revolution combined with U.S. sanctions to supercharge rates.

The rates for ships hauling 2-million-barrel cargoes of Middle East oil to China climbed more than 15% to $113,047-a-day, according to data from the Baltic Exchange in London. That’s the highest in data going back to February 2017.