Bloomberg News

Oil Tanker Supply in Persian Gulf Expands, Marex Spectron Says

November 18, 2011

Nov. 18 (Bloomberg) -- The supply of oil tankers competing to load 2 million-barrel cargoes of crude from ports in the Persian Gulf expanded, said Marex Spectron Group Ltd., a London- based commodities and freight brokerage.

There are 67 vessels available for charter over the next four weeks compared with 59 yesterday, the broker’s Singapore- based unit said today in an e-mailed note. Still, demand for the ships is likely to strengthen and freight rates are “firm,” it said.

--Editors: John Deane, Claudia Carpenter

To contact the reporter on this story: Alaric Nightingale in London at anightingal1@bloomberg.net

To contact the editor responsible for this story: Stuart Wallace at swallace6@bloomberg.net


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