Oil Transportation
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South Korean shipping giant Sinokor Group has invested nearly $6 billion to acquire 73 oil tankers, establishing a near-monopoly in the Strait of Hormuz oil shipping market, with its transport volume exceeding 50% in the first 10 days of October.
According to Bloomberg, citing shipping intelligence data, South Korea's Sinokor Group spent nearly $6 billion to acquire 73 second-hand Very Large Crude Carriers (VLCCs) on the eve of the Iran war, g
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Iraq seeks more oil tankers in an effort to control Hormuz transit
Iraq seeks more oil tankers in an effort to control Hormuz transit
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Saudi Arabia's new oil route adds $5/barrel cost to bypass Hormuz and Bab el-Mandeb, deemed 'worth it' for supply reliability
The detour, which involves moving crude west across Saudi Arabia to Yanbu, then north through the Red Sea to Egypt, across the SUMED pipeline, and finally sailing around the Cape of Good Hope to Asia,
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South Korean shipping giant Sinokor Group has invested nearly $6 billion to acquire 73 oil tankers, establishing a near-monopoly in the Strait of Hormuz oil shipping market, with its transport volume exceeding 50% in the first 10 days of October.
According to Bloomberg, citing shipping intelligence data, South Korea's Sinokor Group spent nearly $6 billion to acquire 73 second-hand Very Large Crude Carriers (VLCCs) on the eve of the Iran war, g
-
Iraq seeks more oil tankers in an effort to control Hormuz transit
Iraq seeks more oil tankers in an effort to control Hormuz transit
-
Saudi Arabia's new oil route adds $5/barrel cost to bypass Hormuz and Bab el-Mandeb, deemed 'worth it' for supply reliability
The detour, which involves moving crude west across Saudi Arabia to Yanbu, then north through the Red Sea to Egypt, across the SUMED pipeline, and finally sailing around the Cape of Good Hope to Asia,
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Oil Transportation
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