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Oil tanker rates rise
- Saudi Arabia: Monday, July 10 - 2006 at 12:16
The cost of transporting crude oil from the Middle East to Asia on VLCCs is set to rise this week as refiners book vessels to increase their imports during the period of peak oil consumption, reported Bloomberg. One industry expert said that freight rates for Very Large Capacity Carriers on the benchmark route to Japan have gone up after a surge of bookings to cover the last shipments in July.
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Jonathan Sheikh-Miller, Deputy EditorMonday, July 10 - 2006 at 12:16 UAE local time (GMT+4)
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