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Freight Rates for Supertankers Drop on Low Demand | Markets & Money News
Shipping rates for supertankers have declined from record highs, dropping to 776 on the Worldscale from 841 last week. This decrease follows a dip in demand due to recent attacks on vessels in the Middle East and a potential easing of US sanctions on shadow-fleet tankers. The Gulf of Oman has also seen reduced export volumes, contributing to lower freight demands. While rates are still near peak levels, ongoing geopolitical tensions, especially in the Strait of Hormuz, could continue to
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