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Tanker markets to gain from oil stockpiling due to price fall

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Published Tue, Dec 16, 2014 · 09:50 PM

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    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 - helped by a drop in shipping fuel bunker prices. Overcapacity, which has dogged owners for years, is also receding.

    oil

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