Morgan Stanley: High tanker rates indicate strong winter

Spot rates for crude oil transports out of the Middle East and Africa increased significantly last week and are expected to stay at a high level in the coming months.
Photo: BW Shipping
Photo: BW Shipping

Longer journeys and an increasing oil export out of the Middle East, combined with a growing US import, have sent rates soaring and heralds a strong winter season for tanker carriers, says Morgan Stanley in a comment on Monday.

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