Saudi oil tanker giant Bahri rushes to rent supertankers, daily rent approaches $200,000

Gelonghui, February 25 — Saudi Arabia’s largest oil transporter, Bahri, has temporarily leased at least five supertankers. According to shipping information, these five very large crude carriers are expected to transport crude oil from the Middle East to Asia over the coming weeks. Data from Tanker International shows that one of the leased tankers, named DHT Jaguar, has a charter equivalent to $208,000 per day. The oil market is closely watching Bahri’s movements for clues about Saudi oil export flows. Shipping companies typically only charter additional vessels when their own capacity is insufficient to transport their cargo. Saudi Arabia recently launched a large new natural gas project, which could ultimately release more oil for export — and there are signs that the country’s oil exports are indeed increasing. Bahri has not immediately responded to requests for comment.