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Seasonal oil tanker hiring orders rose to their highest seasonal level since 2007, as demand for...

Seasonal oil tanker hiring orders rose to their highest seasonal level since 2007, as demand for crude cargoes accelerates before a projected surge in oil refining. Rates on the benchmark Saudi Arabia to Japan route reportedly have jumped fourfold to $24,939/day since late June, helping owners contend with VLCC earnings that averaged $6,838/day YTD, lowest since at least 1997. FRO +4.1% premarket.
Comments (2)
  • DeepValueLover
    , contributor
    Comments (8167) | Send Message
     
    Go FRO!
    12 Jul 2013, 08:47 AM Reply Like
  • Herr Hansa
    , contributor
    Comments (3079) | Send Message
     
    There are still a large number of tankers moored in Singapore. While improving rates are a good sign, there is still much ground to cover before a full recovery.
    12 Jul 2013, 06:34 PM Reply Like
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