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Crude Shipping Costs Up On Rise In Cargo Demand

Mar 15, 2010

[Dow Jones] Costs to ship crude from the Middle East Gulf to Asia rose last week with over 80 cargoes booked from the region in March, the most for a single month since August, writes Dahlman Rose. Rates for very large crude carriers were around $48,000 to $50,000/day compared with around $40,000/day a week ago. Rates were boosted by demand for tankers to load early April cargoes, although the full April program is not expected to hit full swing until this week, Dahlman said. (claire.rangel@dowjones.com)

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