VOL. XLV

No 43

28-October-2002

OIL PRICES

Tanker Rates Boosted By Tonnage Squeeze, Says Poten

Worldscale rates for VLCC charters have reached 100 for only the fourth time since 1990, according to Poten and Partners, New York. In the report VLCC Rates Rocket Upward How Can It Be?, published on 18 October, Poten attributes the return to the good old days of 2000 for tanker owners to shrinkage of the large crude carrier fleet and a return to early charter fixing.

As with most shifts in market...