Seaborne Crude Trade Seen Falling in 2013 by Maritime Strategies

Seaborne trade in crude oil will decline 1.3 percent this year, led by shrinking supplies from the Persian Gulf, according to Maritime Strategies International Ltd., a London-based freight forecaster.

Imports to the U.S., the world’s largest buyer of overseas crudes, are being curbed by rising domestic oil production, Maritime Strategies said in a Feb. 11 report. Rates for the largest tankers won’t significantly recover from a slump unless there’s “much more scrapping,” the forecaster said.

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

To contact the editor responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net

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