Doha – Mubasher: The costs to ship fuel and crude oil from Qatar are expected to rise after the UAE banned Qatar’s vessels from docking at its ports, Reuters reported, citing sources from the two sectors.
Rates are now expected to reach between 75 to 80 Worldscale (WS), supported by the higher demand on these vessels, according to the sources.
Buyers are now splitting cargoes to smaller ships that carry 1 million barrels to load them separately in Qatar and the UAE, the sources told Reuters on Monday.
Companies are also arranging to transfer shipments from smaller-sized vessels onto very large crude carriers (VLCCs) off Sohar, Oman, which has stayed neutral in the conflict.
Ships owners are adding 2.5%, or about $700 a day, for tankers loaded with Qatari oil and heading to Asia, the sources said. Before the conflict, buyers would take VLCC capable of carrying up to 2 million barrels of oil and load up to four different 500,000-barrel cargoes to reduce costs.
Last week, Saudi Arabia, Egypt, the UAE, and other countries cut diplomatic and transport links with Qatar, accusing it of supporting terrorism. The UAE blocked vessels carrying Qatari crude from entering its oil ports.
