Japanese Earthquake May Boost Shipping Rates, Clarkson Says
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Japan’s strongest earthquake on record may be “positive” for dry-bulk and tanker rents for now as port damage effectively takes ships off the market, shipbroker Clarkson Plc said.
Three Japanese oil ports and one terminal remained closed after being damaged by the 8.9-magnitude earthquake and tsunami on March 11, Inchcape Shipping Services said in an e-mailed report today. Sendai, Onahama and Kashima are closed and the Cosmo Oil Co. terminal at the port of Chiba also remains shut, it said.