Cost of Shipping Fuel to Asia Jumps 182% Since Yemen Airstrikes
- Diversions away from the Red Sea stretch out tanker fleet
- Ships that were charging $30,000 a day now cost $83,000
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A surge in oil tanker earnings extended, with one route jumping the most in a day since 2022, as the disruption to traffic through the Red Sea lifts the cost of hauling some barrels.
Rates for vessels carrying fuel from the Middle East to Asia have almost tripled since the US and UK launched airstrikes on Yemen’s Houthi rebels — climbing to $83,000 a day from about $30,000, an increase of 182% since Jan. 12. Those ships mostly haul naphtha, a product used to make gasoline and plastics.