Atlantic Basin Based

August 14, 2020

How the pandemic changed Aframax flows and volumes

Last, but not least, in our series about the impact of Covid-19 on crude oil tradeflows, we will address the Aframax market.  Unlike the VLCC and Suezmax tankers that we discussed in previous weeks, Aframaxes are predominantly employed in short-haul, regional trades.  Global Aframaxes trades in the first six months of 2020 were down by an average of 26 voyages per month (3%) compared to the same period of 2019. 

However, similar to the other segments, the decline was not universal; some trades showed increased volumes, while others were down significantly.  Let’s explore some of the differences to see if we can explain what is going on.

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