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

To: kollmhn who wrote (107365)	8/19/2008 10:31:39 AM
From: Kayaker	Respond to of 206184

Persian Gulf Oil-Tanker Rates May Extend Drop on Lack of Demand By Alaric Nightingale Aug. 19 (Bloomberg) -- The cost of shipping Middle East crude to Asia, the world's busiest route for supertankers, may drop a fourth straight day because of a lack of demand and an oversupply of ships. Tanker rental rates have had the worst start to the month of August since at least 1991, according to data compiled by Bloomberg. Fleet expansion will ``massively'' exceed growth in cargoes over the next two years, the Paris-based International Energy Agency said in its July 1 Medium-Term Oil Market Report. ``There is anticipation among owners for a further decline,'' Nikos Varvaropoulos, an official at Optima Shipbrokers in Athens, said in an e-mailed note today. Too many ships are competing for cargoes and activity has been ``slow,'' he said.... bloomberg.com