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VLCC charter rates continue to climb.
(From Lloyds List)
Byline: Martyn Wingrove
Tankers
CHARTER rates for very large crude carriers continue to climb this week as key Middle East oil exporters released their final November loading schedules.
Oil refiners and traders were jumping over one another to fix tankers for loading Arabian Gulf crude in the last two weeks of November.
High global crude demand due to strong economic growth in China and the anticipation of a harsh winter in North America has boosted demand for tankers transporting oil from Organisation of Petroleum Exporting Countries.
In the scramble, tanker owners have raised their rates to double …
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