Tanker Bookings Rise to Highest Since 2007, Marex Spectron Says

Monthly bookings of oil tankers to load crude from ports in the Persian Gulf rose to the highest since at least January 2007, according to Marex Spectron Group, a commodities and freight derivatives brokerage.

Oil companies and traders hired 132 very large crude carriers, or VLCCs, for loading in November, the London-based broker’s Singapore unit said by e-mail today. That exceeds a previous high of 129, set in April of this year, its data show.

The cost of shipping Saudi Arabian oil to Japan, a benchmark trade route, gained the most since April 6 yesterday, according to the Baltic Exchange in London.

To contact the reporter on this story: Alaric Nightingale at anightingal1@bloomberg.net

To contact the editor responsible for this story: Stuart Wallace at swallace6@bloomberg.net

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