According to CoinMeta, Argus: Freight rates from the Gulf of Mexico to the Asia-Pacific region have reached a new historical high. As buyers in the Asia-Pacific region continue to intensify their purchases of crude oil to maintain refined product production, freight rates for ultra-large crude oil tankers loading at the US Gulf Coast rose to a record high on October 7th. Market sources indicate that a charterer has reached a preliminary agreement to pay a fixed fee of $81 million for a vessel owned by a Korean company to transport crude oil from the Gulf of Mexico to the Asia-Pacific region, with loading scheduled for the end of November. This represents the highest freight rate recorded by Argus since it began monitoring this route in 2017. The freight rate for this route has increased by $17.75 million compared to the previous trading day and is over $63 million higher than the peak rate of around $22.5 million seen before the escalation of tensions in the Middle East. Previously, ongoing market activity had also contributed to the continuous rise in freight rates. Another charterer has agreed to pay a fixed fee of $77 million to charter a vessel for a voyage from the Gulf of Mexico to South Korea, with loading scheduled for early November.