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27.08.26 - 02:45
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India′s Crude Import Bill Surges As Hormuz Shipping Rates Soar (ZeroHedge)
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India's Crude Import Bill Surges As Hormuz Shipping Rates Soar
Authored by Tsvetana Paraskova via OilPrice.com,
India's crude oil import bill has soared since the Iran war choked Middle Eastern oil supply, raised benchmark crude prices, quadrupled freight rates, and boosted insurance on a single Strait of Hormuz voyage to never-before-seen highs.
India has been paying elevated prices to import Middle Eastern crude not only because of the spike in oil prices, but also due to the surging costs to bring supply from the nearest region from which it can import crude.
The freight rates on the key route from Ras Tanura on Saudi Arabia's Persian Gulf to India have soared by more than 400% since February 28, when the war began, and Iran closed off the Strait of Hormuz. The rate for shipping crude on a very large crude carrier (VLCC) from Ras Tanura to India surged by 411% to $4.34 a barrel in August, from just $0.85 per barrel before the war, according to data compiled by Indian outlet Financial Exp...
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26.08.26 - 17:31
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United Airlines unveils major international expansion (The Hill)
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United Airlines will add 10 new destinations next year — the largest international expansion in the Chicago-based company's nearly 100-year history. The airline announced Tuesday that it will introduce nonstop flights to Okinawa, Japan; Toulouse, France; Luxembourg City, Luxembourg; Marseille, France; Ibiza, Spain; Valencia, Spain; Terceira, Portugal; Ljubljana, Slovenia; Olbia (Sardinia), Italy; and Catania (Sicily),......
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25.08.26 - 20:30
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United Airlines CEO on Expansion Plans, Airfares, Demand (Bloomberg)
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United Airlines Chief Executive Officer Scott Kirby discusses the largest international expansion in the company's history, the strength he sees in both customer demand and the US economy, and plans to offset increased oil prices. The carrier will now fly to 10 more destinations in Europe and Asia. Kirby speaks to Bloomberg's Lisa Abramowicz from United's hub at Newark Liberty International Airport in New Jersey. (Source: Bloomberg)...
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