The Case of the Missing Aframaxes

With the availability of Venezuelan crude sporadic at best, and ships under contract for the Caribbean – US trade route, Aframaxes disappeared off the spot market chart during the past two weeks for what is traditionally their most popular voyage. The number of vessels open during the next 20 days has nearly doubled in just two weeks – from 19.6 during the first week of May to 37 this past week. World scale rates dropped from over 200 during the first week of May to WS 140 last week. Though rates are heading back up now, what happened to the dear old Aframax last week? Download here