Maritime shipping costs surge amid rising risks in the Strait of Hormuz
- 1Tanker captains receive a monthly salary of $100,000 and a $50,000 bonus per voyage to navigate the strait.
- 2Daily freight rates have risen from last year's $20,000 to $50,000 per day to a record $1.3 million per day.
- 3Repsol's margin per barrel fell from $36 in the third quarter to $15 in October.
So what's the key point?
Shipping rates for vessels passing through the strait have jumped to $1.3 million per day. Repsol's profit per barrel has decreased to $15.
Source Fortune · View original ↗
Today's 5 AI picks, all freeNothing hidden: past picks and how they did against the S&P 500.