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Dilemma for Oil Refiners as Surging Ship Costs Kill Margins

By Serene Cheong and Sharon Cho (Bloomberg) –Oil refiners hoping for some fourth-quarter gravy are facing disappointment as surging freight rates inflate the cost of buying crude. U.S. sanctions on Chinese shipping companies and Friday’s attack on an Iranian tanker have turbo-charged transport costs, with rates on the Persian Gulf to China route at almost […]

WP_Post Object ( [ID] => 217514 [post_author] => 21 [post_date] => 2019-10-15 15:57:14 [post_date_gmt] => 2019-10-15 15:57:14 [post_content] => oil tanker loadingBy Serene Cheong and Sharon Cho (Bloomberg) –Oil refiners hoping for some fourth-quarter gravy are facing disappointment as surging freight rates inflate the cost of buying crude. U.S. sanctions on Chinese shipping companies and Friday’s attack on an Iranian tanker have turbo-charged transport costs, with rates on the Persian Gulf to China route at almost […] [post_title] => Dilemma for Oil Refiners as Surging Ship Costs Kill Margins [post_excerpt] => By Serene Cheong and Sharon Cho (Bloomberg) –Oil refiners hoping for some fourth-quarter gravy are facing disappointment as surging freight rates inflate the cost of buying crude. U.S. sanctions on Chinese shipping companies and Friday’s attack o... [post_status] => publish [comment_status] => open [ping_status] => closed [post_password] => [post_name] => dilemma-for-oil-refiners-as-surging-ship-costs-kill-margins [to_ping] => [pinged] => [post_modified] => 2019-10-15 15:57:14 [post_modified_gmt] => 2019-10-15 15:57:14 [post_content_filtered] => [post_parent] => 0 [guid] => http://gcaptain.com/?p=136870 [menu_order] => 0 [post_type] => news [post_mime_type] => [comment_count] => 0 [filter] => raw )