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The steady rise in the cost of bunker fuels this year has further eroded shipowners' earnings across all the segments of the tanker industry, sources said August 7.
The price of 380 CST bunker fuel in Singapore has nearly doubled since the beginning of the year, from $242.50/mt to a 2009 high of $451/mt on August 6, according to Platts data.
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Reactions to Platts Feature: Rising bunker costs, weak market squeeze tanker earnings: trade
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