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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: excardog who wrote (2034)	6/14/2001 6:42:06 PM
From: excardog	Respond to of 206184

Tanker stock drop answers: Freight rates at new year lows on decreased demand New York, June 13 (BridgeNews) - 1921 ET - Tanker freight rates have fallen to new lows for the year due to decreased demand, shipbrokers said. They attributed this to the OPEC oil cuts made this year which have been filtering into the market over the past few months combined with the halt in Iraqi exports and cuts in crude throughput in Europe. Thus the number of cargoes available has been trimmed, leading to an overhang of tonnage and a collapse in rates in most areas of the tanker market. Rates are expected to stay at easier levels in the near term. (Story .20576)