
As oil prices drop, tanker profits rise
Plentiful oil is keeping crude prices stable while driving up demand for oil tankers and profits for tanker operators, according to reports. “Right now, it costs more than $87,000 a day to carry about 2 million barrels from Saudi Arabia to China,” Bloomberg reported on Sept. 16. “That’s the most in 2 1/2 years, exceeding levels seen during a period of intense fighting in the Middle East earlier this year.” Part of the demand is caused because a number of