Winter heating demands likely to rekindle tanker rates

10/18/2004
An unusual conversion of forces in late summer was likely to extend the cooling of tanker rates, compared with activity typical for this time of the year, according to an analysis by shipping consultant Poten & Partners, New York.But, with winter season imminent, such a lull in rates would probably be short-lived.The apparent lull in fixture (vessel) activity in late summer, said the consultancy, the high price of crude as an inhibitor to vessel-inventory accumulation, and some progress in "reducing the anxiety level of those in the oil business" could spell an extension on the cooling of rates—but not for long.Rate movementsAs the US Labor Day holiday approached at the beginning of...
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