Middle East-to-China Oil Shipping Costs Surge 584% to Highest Since 2020

Multiple high-authority, highly relevant industry and news sources directly corroborate the statement. Several Bloomberg reports provide explicit figures, confirming that oil supertanker hire costs on the Middle East-to-China route have risen by roughly 584–600%, which matches the numerical claim. The reports consistently note these rates have reached their highest level since April 2020, aligning fully with the 'highest since 2020' portion of the statement. Reuters and other maritime industry outlets also provide concrete market rate data showing VLCC daily earnings in excess of $150k–$200k, which are historically comparable to early 2020 peak levels. The increase rate and historical comparison are not disputed in any source, and no credible contradictory evidence is presented. The sources’ authority and relevance are strong, with consistent terminology and rate benchmarks across independent platforms. Therefore, the available evidence strongly supports the truthfulness of the statement with high confidence.