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11 August 2020 The on-line newspaper devoted to the world of transports 09:28 GMT+2

May 4, 2000

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

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