Dirty tankers quarterly: Markets adjust to shifting trade patterns
June 30, 2022 Comments Off
Weak VLCC market fundamentals have framed an obscure outlook for the smaller tanker sizes. A resurgence of COVID-19 cases in China led to a series of lockdowns across the country and reduced crude import appetite from domestic refiners. This in turn translated to weakening long-haul demand for VLCCs out of West Africa, putting pressure on freight rates out of the…
Dirty tankers quarterly: Markets adjust to shifting trade patterns
Weak VLCC market fundamentals have framed an obscure outlook for the smaller tanker sizes. A resurgence of COVID-19 cases in China led to a series of lockdowns across the country and reduced crude import appetite from domestic refiners. This in turn translated to weakening long-haul demand for VLCCs out of West Africa, putting pressure on freight rates out of the…
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