Tanker freight rates up on oil trade growth
Tanker freight rates are rising sharply this year as the market
recovers from the lows of 1998 and 1999.
The cost of shipping oil from the Arabian gulf to Japan, one of
the world's primary routes, has almost doubled since November
1999 to around Dollars 10 a tonne.
Analysts expect further increases in the next few months.
A key driver of the market has
Read more on Financial Times