Tankship Charter Slump Likely in July 2012

Bloomberg Business News
Thursday, July 19, 2012

A fall in tankship bookings by China due to stockpiling & slowdown in its economic growth sets scene for probable 10% slump

According to Bloomberg, the largest oil-tankers booked to haul 2 million-barrel cargoes of crude from ports in the Persian Gulf are poised to slump to a 17-month low as a slowdown in the world’s second-largest economy curbs oil demand.

Charters of very large crude carriers to ship Middle East crude will probably fall by 10 percent from June to 115 shipments this month, the lowest tally since February 2011, Kevin Sy, a Singapore-based freight-derivatives broker at Marex Spectron Group, informed Bloomberg's reporter, Bob Sheridan.

Source: Bloomberg


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