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	Persian Gulf Tankers May Extend Decline as Rental Demand Slows The cost of shipping Middle East crude to Asia, which ended a week-long rally yesterday, may decline further as bookings slow, eclipsing demand for ships to be used as storage. No double-hulled very large crude carriers were booked to ship consignments from Persian Gulf ports to Asia, according to reports yesterday and today from Athens-based Optima Shipbrokers. Rents advanced 51 percent last week, buoyed by demand from oil companies to hire the carriers as storage. “I don’t think the storage has been enough to really make an impact,” Halvor Ellefsen, a tanker broker at SeaLeague AS in Oslo, said in an e-mailed note today. The supply of ships to collect cargoes at the end of December is “far from tight.” Read the rest of this entry » Tags: baltic, persia, persian gulf, shipping Middle East, tankers This entry was posted on Wednesday, December 10th, 2008 at 1:12 pm and is filed under Cargo & Shipping News. You can follow any responses to this entry through the RSS 2.0 feed.

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