Tanker Rates Rebound

Friday, January 19, 2001

Tanker freight has started to rebound after two days of frantic fixing, but any gains will be capped by slowing business in February when numerous U.S. refineries shut down for maintenance, brokers said. "We should be seeing W180 next week as tanker supply thins out," said a U.S. broker. On Thursday, brokers reported that Caribs tanker freight had fallen as low as W165, about 100 points down on the prevailing market rate two weeks ago.

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