Bloomberg: Caribbean Crude-Oil Rates Fall; Onshore Storage Almost Full

“As a result of refinery maintenance and repairs, which has created a surplus of crude oil along the U.S. gulf and mid-continent, rates to ship crude oil from the Caribbean basin fell for a second day. Today’s rate is a 3.4 percent decline from yesterday ad a 6.5 percent decline as far this week. According to Poten & Partners, “WS 143 is equivalent to abut $20,600 per day after expenses such as fuel and port fees.”