Freight Rates Archives - The Daily Journal

U.S. considers easing sanctions on “shadow fleet” to lower shipping costs

October 16, 2026October 16, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- The U.S. government is considering easing sanctions on vessels belonging to the so-called “ghost fleet” or “shadow fleet,” which have transported oil and petroleum products from Russia, Iran, and Venezuela, in an effort to reduce global shipping rates. President Donald Trump’s administration aims to reduce distribution disruptions caused by record-high maritime freight […]

Vitol and Trafigura push for discounts on Venezuelan crude oil

September 23, 2026September 23, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Major international oil trading companies Vitol and Trafigura are pushing for steeper discounts on Venezuelan crude oil as rising freight rates erode both companies’ profit margins. According to sources consulted by Reuters, the companies are seeking more favorable prices per barrel after maritime transportation costs surged in recent weeks. Higher shipping costs […]