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Tanker Rates Seen Sinking 35% Amid Refinery Cutbacks
By Alaric Nightingale and Alistair Holloway
April 6 (Bloomberg) — The most profitable supertanker market in more than a year is heading for a 35 percent slump as oil refineries from Japan to the U.K. shut for maintenance and leave a surplus of vessels.
Shipping costs will fall to an average of $28,758 a day this quarter [...]