Lloyd’s List: Aframax Crude Tankers: The Case for Investment

22 Apr 2015: “Since 2010, dirty spot fixture activity on the main Atlantic aframax routes has been fairly stable, according to Poten & Partners. “North Sea aframax activity remains solid at around 800 reported spot fixtures per year, the US broker and consultancy said in a recent study on dirty aframaxes. “It said spot fixture activity in the Caribbean also continues at healthy levels — around 450-500 fixtures per year. “In addition, a small but promising aframax trade that has developed in recent years is the transport of Eagle Ford shale oil to the east coast of Canada. “’While this trade was virtually non-existent a few years ago, it now provides for three to four fixtures per month,’ Poten analysts pointed out. “…However, although instability will probably continue in the short term in this region, future prospects for the Mediterranean aframax market are promising, with significant long-term growth potential for exports out of Libya and the Black Sea and Turkey/Ceyhan, Poten forecasted. “’…The other growth area in the Far East has been the east Siberian port of Kozmino,’ noted Poten. ‘Crude oil exports started in 2009 and have seen a steady increase over the years and aframax fixtures currently average about 20 per month.’ “’…Combining the positive employment outlook above with a shrinking fleet, a modest orderbook and the potential that a significant portion of the modern coated vessels in the aframax fleet will be employed in the growing clean petroleum trades, makes us conclude that aframax crude tankers have a bright future,’ said Poten.”