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Tanker Bookings Rise to Highest Since 2007, Marex Spectron Says

Nov. 10 (Bloomberg) -- 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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