Canadian crude shipments reportedly head straight to Asia as freight rates surge
Bloomberg reports that shipments are bypassing a stop off the California coast because soaring shipping rates make the detour less economical.
TLDR
Canadian crude shipments are heading straight to Asia rather than stopping off the California coast, Bloomberg reports. Soaring freight rates are making the detour less economical, while Canada’s oil producers seek to reduce dependence on the US during an ongoing trade war.
Canadian crude shipments reportedly head straight to Asia as freight rates surge
Bloomberg reports that shipments are bypassing a stop off the California coast because soaring shipping rates make the detour less economical.
TLDR
Canadian crude shipments are heading straight to Asia rather than stopping off the California coast, Bloomberg reports. Soaring freight rates are making the detour less economical, while Canada’s oil producers seek to reduce dependence on the US during an ongoing trade war.