Monday, July 16, 2007

Asian Aframax Rates May Extend Decline Before August Vessel-Bookings Start

(Bloomberg) -- The rate for shipping fuel on
tankers that can carry between 80,000 metric tons and 120,000
tons on Asian routes may extend a decline until refiners and
traders increase vessel bookings for August.

The cost of shipping 80,000 tons of crude oil on so-called
aframax tankers to Singapore from Kuwait dropped 0.6 percent to
Worldscale 135.58 on July 13, according to the London-based
Baltic Exchange. It fell for a third week, losing 5.2 percent in
the week ended July 13.


Read more at Bloomberg Energy News

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