The recent spike in tanker rates is providing a mixed blessing for one of Africa’s emerging crude oil suppliers South Sudan.
Seaborne exports surpassed 160,000 barrels per day (bpd) in October for the first time since April 2019, according to IHS Markit.
“More than 80,000 bpd were loaded last month with destination China, but the world’s biggest importer’s market share in Sudanese shipments dropped below 50%, partially affected by the increased cost of transportation during the last month,” said Fotios Katsoulas, liquid bulk analyst for maritime and trade at IHS Markit.
