Wednesday, July 18, 2007

Asian Oil-Product Shipping Rates Advance; Japan's Supplies May Limit Gains

(Bloomberg) -- Freight rates for shipping jet fuel
and other oil products on medium- to large-range tankers in Asia
were mostly higher as companies started booking vessels for
August. Larger product inventories in Japan may cap the gains.

The rate for shipping 30,000 tons of oil products to Japan
from Singapore rose a fourth day yesterday, adding 2.9 percent to
Worldscale 233.33, based on the London-based Baltic Exchange data.
That translates to $20.25 per ton of product shipped on the route,
according to Bloomberg data.


Read more at Bloomberg Energy News

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