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Diesel-loaded tankers stranded in Asia as buyers retreat; rates jump

Reuters  |  SINGAPORE 

By Jessica JaganathanSINGAPORE (Reuters) - Several tankers carrying diesel fuel are floating off Taiwan and Southeast Asian waters as a steep fall in oil prices kept buyers at bay, trade and shipping sources said on Friday, helping push rates to their highest since January 2016.With tanker rates also boosted by strong Chinese oil exports, it was a big relief for an industry that has been in the doldrums for the past three years.About seven to nine long-range tankers carrying about 5 to 7 million barrels of diesel are currently floating off Taiwan waters largely due to a drop in bunker fuel ...

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First Published: Fri, December 07 2018. 14:54 IST
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