Lloyd’s List: India Major Destination for Single Hull VLCC Tonnage

“India has overtaken South Korea as the top trading destination for single-hulled very large crude carriers.Thailand and Taiwan are also other key discharge centres for single-hulled VLCCs, with fewer also used to ship crude to China and Japan . . . .  Analysts at New York-based Poten & Partners said the high-profile Hebei Spirit oil spill in South Korea in December 2007 — coupled with a growing fleet — cut single-hulled VLCCs fixed by South Korean and Chinese oil companies. ‘The market for single hulls is certainly dwindling. When charterers can largely have their pick of modern ships, why tempt hull-type fate?’ Poten analysts wrote in the latest weekly report.”