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Finance & Markets

Tanker Market: Rates on the Rise During August

The tanker market rose during August, OPEC said in its latest monthly report. Dirty tanker spot freight rates were stronger in August, led by gains in VLCC rates. Spot freight rates for VLCC rose, m-o-m, across all monitored routes, recovering from the decline seen in the previous month. On the Middle East-to-East route, VLCC spot ...

We haven't written up this one. Hellenic Shipping News has the full story — the link below goes straight to it.

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GMS Week 37 – ROUTES TIGHTEN, BIDS RISE!

Last week the shooting returned to the Gulf. This week the risk spread west. Houthi forces captured Mocha and the strategically placed Mayun, or Perim, Island at Bab al-Mandab, putting fresh pressure…

  • Houthi forces seize Mocha and Mayun Island, tightening Red Sea routes
  • Brent oil surpasses $107 per barrel, WTI exceeds $103 amid heightened threat
  • Baltic Dry Index at 3,521, indicating constrained dry freight market

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