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Isn't it time we started thinking about the dollar?
(From Lloyds List)
Byline: Andrew Craig Bennet
Quarterpoints
AT A ship finance conference last week, a very well known European shipping banker remarked, over lunch, that if you buy your fuel in euros, the price of oil has not gone up much.
Ships don't buy their fuel in Euros, of course. Ships buy everything in dollars, and they get paid in dollars.
In dollars, we are enjoying the most wonderful freight market since, well, whenever. Take your pick since none of the long run freight market indices offer an 'apples for apples' comparison. We are enjoying a jolly splendid market in dollars.
It does not look quite as good in euros, or in yen.
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