Middle East Supertanker Glut to Prevent Rate Gains, Imarex Says
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Imarex Asia Pte, a unit of Oslo-based freight derivatives broker Imarex ASA, comments in an e-mailed report today on supply and demand for supertankers to load 2 million-barrel cargoes of Middle East crude oil.
Rental income from the industry’s benchmark Saudi Arabia-to-Japan route last week had its biggest weekly drop since October, plunging 46 percent to $8,111 a day, according to data from the London-based Baltic Exchange.