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VLCC rates flat
- Saudi Arabia: Monday, February 12 - 2007 at 09:42
Although freezing conditions in the US, as well as an explosion at a gas and condensate oil field in California which has closed a 120,000 bpd facility, have lifted oil prices, rates for VLCCs remain depressed, reported Gulf News. Rates for VLCCs from the Arabian Gulf to the West have slipped below Worldscale 50, with the Baltic Exchange quoting WS47.5 for 280,000 tonnes from the Arabian Gulf to the US.
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Jonathan Sheikh-Miller, Deputy EditorMonday, February 12 - 2007 at 09:42 UAE local time (GMT+4)
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This article was updated on Mon Feb 19 2007.
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