Charter rates for oil tankers are poised to rise to a peak just before the end of the 1990s. The increase will stem from slowly rising demand, tighter inspection requirements, and a slow pace in speculative building of vessels, says Drewry Shipping Consultants Ltd., London. Freight rates have been rising steadily since 1994 almost unnoticed, (13113 bytes) Drewry said. "Rates for product tankers benefitted most in 1994 with consumption leading the way. In 1995 it has been the crude market that has improved with steadily rising oil supplies from Latin America and North Europe." Oil tanker activity has remained about constant during the last 18 months, Drewry said, with swings in suppl...

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