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Article: E.A. Technique expects tanker rates to turn around next year
- Article from:
- New Straits Times
- Article date:
- May 11, 2009
- Author:
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Presenna Nambiar
New Straits Times
05-11-2009
E.A. Technique expects tanker rates to turn around next year
Byline: Presenna Nambiar
Edition: Main/Lifestyle
Section: Business Times
Type: Company
E.A. Technique (M) Sdn Bhd expects tanker rates to firm up next year, to levels previously enjoyed in 2008.
For example, 10,000 deadweight (DWT) product tankers are commanding about US$10,000 to US$13,000 (RM35,300 to RM45,890) a day time charter rates currently, down by about 10 per cent from last year.
"We have seen a drop in business due to the world economy, but we expect things to firm up in 2010," E.A.Technique chief executive officer Datuk Hak Md Amin told reporters.
He said the current tanker ...