Tradewinds: Suezmaxes Fight for Share

“Suezmax numbers have swollen by nearly 10% so far this year compared to just 1.2% for aframaxes and 8% and falling for the largest crude carriers, according to Poten & Partners. And while new VLCC and aframax tonnage has been absorbed by a pick up in trade on their routes, the same cannot be said for suezmaxes. ‘Although the pace of VLCC fleet growth has punished earnings, VLCCs have enjoyed an organic demand benefit from increased Arabian Gulf production and from Asian crude import sourcing trends,’ the US-based broker and consultancy said in its weekly report.”