Splash 247: Growing ton-mile demand offers hope for suezmaxes and aframaxes

18 June 2018: 

“Growing ton-mile demand offers some hope for hard-pressed owners of suezmax and aframax tankers, according to the latest weekly report from Poten & Partners.”

“The New York broker reports that over the first four months of this year, ton-mile demand for suezmax tankers actually increased by 7% compared to the prior year as suezmaxes performed on average 27.5 more voyages per month.”

“For aframax tankers Poten described the situation as “mixed”. Ton-mile demand from crude oil trades increased by 9% in the first four months, even though the number of voyages decreased.”

“”Looking at the earnings, both suezmax and aframax segments appear to be in dire straits,” Poten warned in its conclusion, adding a happier note to finish; “However, underlying ton-mile demand growth is healthy, sowing the seeds of a recovery if supply growth can be contained.”