Monday, July 9, 2007

Supertanker Rates May Fall on Reduced OPEC Shipments to U.S., Survey Shows

(Bloomberg) -- The cost of hiring supertankers on
the world's busiest shipping lanes may slump this quarter as
OPEC, supplier of 40 percent of the world's crude, works to
reduce a glut of crude in the U.S.

Daily earnings for carriers able to haul 2 million-barrel
cargoes of Middle East crude on the main supertanker route to
Asia will drop 42 percent to $47,500 a day, according to the
median estimate of seven analysts polled by Bloomberg News July
5 and 6. They were about $82,000 in the same quarter last year.


Read more at Bloomberg Energy News

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