Tanker Hiring Jumps to Six-Year High as IEA Sees Refining Surge
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Bookings of the largest oil tankers jumped to the highest for the time of year since at least 2007 as demand for crude cargoes accelerates before a surge in oil refining projected by the International Energy Agency.
Traders and oil companies hired 126 very large crude carriers to load in July, according to data today from Marex Spectron Group, a London-based commodities and freight-derivatives broker. There are still more charters to arrange and it’s the second consecutive month when bookings have been at the highest for the period in Marex data starting in January 2007. The vessels each carry 2 million barrels.