More Balancing Acts

Aframax & Suezmax ton-mile demand not so bad

In our Weekly Opinion of July 30th, titled “It is a Balancing Act” we looked at the VLCC ton-mile demand and fleet supply balance to understand the current market slump. As we discussed in that issue, VLCC ton-mile demand suffered from OPEC+ production cuts, which, combined with strong fleet growth caused the current rate malaise. This week, we will look at the smaller oil tanker markets.

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