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Oil Tanker Rates Soar Above $100,000 a Day as China Hiring Jumps

  • Acceleration in bookings to China cited as reason for gain
  • Owners also being helped as falling oil price cuts fuel costs

The world’s biggest crude oil tankers earned more than $100,000 a day for the first time since 2008, amid speculation that a surge in Chinese bookings is curbing the number that are left available for charter.

Ships hauling 2 million barrel cargoes of Saudi Arabian crude to Japan, a benchmark route, earned $104,256 a day, a level last seen in July 2008, according to data on Friday from the Baltic Exchange in London. The rate was a 13 percent gain from Thursday.