An uptick in gasoline loadings from Europe to West Africa since the beginning of September, compared to a calm summer has led to a strengthening of freight rates in the clean tanker market for LR1s.
Persistently lower Black Sea crude loadings over July-September, compared to more buoyant export levels in the first half of the year, continue to weigh on the regional tanker market rates.
US crude loadings to China are en course to reach a 4-month high in September, as more bookings emerge along the route for October.
In the wake of Hurricane Laura, we look at the impact of on vessel availability in the clean and dirty fleet segments in the US Gulf coast.
The number of tankers used for crude and products floating storage activity around the world is down by 36% from two and a half months ago.
Utilisation rates for Very Large Crude Carriers (VLCC) fell to 44% in August, their lowest level this year following stymied global demand recovery for crude and a significant loss of cargoes compared to 2019 levels, according to Vortexa data.
Diesel and jet fuel loadings onto newbuild VLCCs have hit a year-to-date peak in July. Rising cargo volumes aboard VLCCs reinforce the view that east of Suez traders recently become increasingly keen on loading cargoes for longer haul journeys, potentially for floating storage.
Register now for our Freight webinar, discussing the tanker markets downfall in H1 2020, and the key drivers for the market today. Presented with Braemar.
Aframax tankers trading in the Mediterranean are entering a period with rates at multi-year lows, amid low cargo volumes and a build in surplus tonnage. We investigate the current state of the Aframax Mediterranean market and look to where it is heading through Vortexa data.
Very large crude carrier (VLCC) tanker rates surged to multi-year highs in recent days amid a perfect storm of sanctions and regulatory risks that placed several hundred oil tankers off limits.