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Tanker rates start to tick up on Suez blockage impact

Suezmax and aframax rates have edged up during the Suez Canal blockage, say analysts. Product tanker rates are also showing glimmers of strength.

Diverted cargoes will add to sailing distances, which will undoubtedly spur freight rates, albeit temporarily, given weak demand in Europe as a result of the third wave of coronavirus lockdowns

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