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Cheap oil sends tanker rates soaring

Spot rates for tanker vessels soar yet again due to the current geopolitical unrest. The sudden plunge in the oil price has significantly increased demand for VLCC tankers.

Photo: Edgar Su/Reuters/Ritzau Scanpix

Freight rates for supertankers soar big-time again on the back of the oil price war between Saudi Arabia and Russia.

Several international media on Thursday report a big hike in the charter price for VLCC supertankers.

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