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American Shipping sees ‘stable and improving’ market conditions

Jones Act product tanker owner reports new time charter contracts being signed off at higher levels than last year and for longer durations, while rates are profitable for both owners and operators

‘We are encouraged to see significant chartering activity in the Jones Act tanker market during the last few months, leaving very limited shipping capacity available until the end of 2020’ says chief executive Pål Lothe Magnussen

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