Dirty Spot Fixture Activity Rises, But Top Rankings Shift

Reported spot activity for larger dirty tankers increased by 5% from 2011 to 2012. Suezmaxes saw the greatest gains, increasing more than 10%, thanks to the increased loading activity from such regions as the Caribbean and Arabian Gulf (discussed in our September 28th, 2012 opinion). Aframaxes and Panamaxes each grew by approximately 3% year-on-year, while VLCC spot fixtures increased by 5%. At the same time, however, increased supply created difficult rate environments for owners – vessel earnings in 2012 were at or near ten-year lows. Download here