Shipping cost may shoot up
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Shipping cost may shoot up

Shipping cost may shoot up

The cost of shipping Middle East crude to Asia may further hike rates for a sixth day because vessel supply is constrained in the Atlantic, reported Bloomberg. The report noted that rising charter rates in western hemisphere markets may cause owners whose tankers are in Europe or US to choose for West African cargoes rather than sending the ships back to the Middle East.

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    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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