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Tanker markets to gain from oil stockpiling due to price fall

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Supertanker rates are already close to five-year highs of over US$83,000 a day, helped by a drop in shipping fuel bunker prices, while overcapacity is also receding.

London

THE drop in oil price will hand tanker markets an unexpected bonus next year, boosting demand for oil storage at sea while distant eastern markets also bargain-hunt fuel and need shipping.

Supertanker rates are already close to five-year highs of over US$83,000 a day -