Imabari Shipbuilding’s Saijo Shipyard will expand its facilities in Japan with assistance from a government-backed fund. (Photo obtained by Nikkei)
October 16, 2026 01:56 JST
TOKYO — Tanker rates have surged amid heightened demand, driven by routing adjustments following escalating U.S.-Iran tensions that have prompted vessels to avoid the Strait of Hormuz.
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