Oversupplied Suezmaxes Fight for Market Share

Facing rapid fleet growth and limited organic volume from its traditional load regions, Suezmaxes have had to fight for market share from other dirty vessel classes. Continued deliveries of Suezmaxes have driven 9% growth in the fleet this year, overwhelming tepid demand growth in its traditional load regions of West Africa, the Black Sea and the Med. Instead, Suezmax fixtures have cropped up in atypical load regions – with higher AG liftings and a surge in Caribs-East cargoes providing the tonne-mile impetus to keep sector utilisations from crashing any lower than they have. <br /><br /> Download here