Supertanker chartered from Gulf Coast to China for $76 million, 10 times higher than pre-war level

Hey everybody, listen. On CNBC, we talk a lot about the price of oil. You see the contract price come up 90, 95, 100 bucks a barrel, but there's a whole different side to the oil market that you might not be thinking about, and that is the price of moving oil around the world, especially by ship. Listen to this. I've got a source who is a ship broker. He helps companies charter giant super tankers. This is unbelievable. He told me this morning that he had a ship chartered. The Alexandros is the name of the ship and the charter is from the US Gulf Coast basically like the Houston area to China. The cost of that charter which was done by Trafagura which is an oil trading company 76 million. The normal rate before the Iran war began 7 to10 million. It is 10 times as expensive to charter a ship than it was before the war began. He had another name a couple of hours ago, 77 million for a similar route. So, don't just pay attention to the price that we show you on the screen. You got to think about all the other prices, including the cost of a giant ship, because that goes into the costs that you pay ultimately at the gas