Tanker congestion at Turkmenistan’s Caspian Sea port of Turkmenbashi at the end of June pushed up freight rates for shipments from the port. Higher rates from Turkmenbashi will probably persist this month, supported by strong demand for vessels, but freight rates for crude and products transport on other Caspian routes were unchanged from May last month. Delays at Turkmenbashi were caused by lower than expected loading rates for fuel oil. There were 11 tankers waiting ofshore on 8 July to load a combined 59,900t of fuel oil for trading companies Novocorp, Turkmen Petroleum, Almart Petroleum and Etoile Energy.
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