FREIGHT: Mideast Tanker Surplus Widens
Nov-21 14:18
An excess of supertankers in the Middle East compared with crude cargoes for the next 30 days widened to 19%, according to Bloomberg sources, following a cargo lull.
- This compares to the previous week’s 15%.
- Earlier this week, charterers held back Middle Eastern oil cargoes from the market for early-December loading, swelling vessel supply in the region, sources told Bloomberg.
- Earnings on the benchmark ME-China route were $131,252, according to Bloomberg citing Baltic Exchange data, down 8.1% on the week.
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