Monday, July 2, 2007

Persian Gulf Oil Tanker Rates Snap Nine-Day Slump on Limited Ship Supplies

(Bloomberg) -- The cost of transporting Middle East
crude to Asia on supertankers snapped a nine-day slide as the
number of spare vessels dwindled.

The number of vessels available for hire next month has
shrunk about 8 percent since June 29 because of a series of
bookings that day, according to a report e-mailed today by Paris-
based shipbrokers Barry Rogliano Salles. There are 99 tankers
free today, compared with 108 on June 29.


Read more at Bloomberg Energy News

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