Lloyds List: Suezmax Crude Tankers – the Surprise Pick for Investors

“[A] recent report by Poten & Partners noted that more West African cargoes are being absorbed by Europe. Some 114 fixtures on that West Africa to Europe route were reported in 2009, but this year it could show more than 230 fixtures, noted Poten. ‘Europe’s appetite for Nigerian and Angolan barrels has staved off West Africa’s loss of total market share’, the broker argued. As such, West African fixtures, as a percentage of total reported spot fixture volumes, have declined only modestly from 38% in 2009 to 31% this year, it observed. In addition, the number of suezmax fixtures reported from the Middle East Gulf has increased, with longer voyages, boosting tonne-miles. Fixtures from the Middle East Gulf could top 530 this year, nearly double the number five years ago, Poten forecast. Online valuation service VesselsValue has noticed the potential offered by suezmaxes to investors. At the recent Marine Money event in New York, it argued that suezmaxes were possibly one of the more interesting investment opportunities right now.”