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The vessel, a very large crude carrier (VLCC) named Asian Lion, with a capacity of around 2 million barrels, is currently heading towards West Asia to load.
Glencore has chartered the VLCC Asian Lion to load crude from West Asia post-ceasefire.
KEY POINTS
- The VLCC was fixed at Worldscale 580, more than double pre-war freight rates for the route.
- Demurrage fees have surged to about $580,000 per day due to ongoing operational uncertainties.
- Iran requires vessels to obtain permission before transiting the Strait of Hormuz and warns of targeting unauthorized ships.
- Iran's Revolutionary Guards navy has issued alternative navigation routes to help ships avoid naval mines.
COMPANIES
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