Oil Tanker Supply in Persian Gulf Expands, Says Marex Spectron

The supply of oil tankers competing to load 2 million-barrel cargoes of crude from ports in the Persian Gulf expanded, said Marex Spectron Group Ltd., a London- based commodities and freight brokerage.

There are 67 vessels available for charter over the next four weeks compared with 59 yesterday, the broker’s Singapore- based unit said today in an e-mailed note. Still, demand for the ships is likely to strengthen and freight rates are “firm,” it said.

By Alaric Nightingale (Bloomberg)