Supertanker charter costs hit $1.2 million a day amid Iran conflict

The cost of chartering a so-called supertanker to transport oil continues to soar. For the first time, the cost now amounts to $1.2 million per day, the equivalent of almost 12 million Swedish kronor, writes the Financial Times.

The background is the Iran conflict, which has meant that the existing supply of ships is now forced to reroute, making the distances the ships travel much longer.

Prices compare with $20,000-50,000 per day earlier this year, and insurance costs have also increased sharply in connection with the Iran conflict. All of this means that, for example, the price of diesel in Singapore is now around $180 per barrel and over $200 per barrel in the US and Europe.