Very Large Clean Carriers

Sep 20th, 2024:Unusual markets create unusual trades The tanker industry has a reputation for being a very traditional business. Compared to other industries there has not been a lot of innovation in the way crude oil and petroleum products are moved. This is not a negative judgement. It is a testament to the fact that the global deep-sea shipping markets are already highly efficient and offer a very competitive product. Every now and then, however, there are innovations, sometimes technological, sometimes in business practices. One of those innovations is the use of large crude oil tankers to move refined products. This practice was regularly utilized for newbuilding tankers, transporting refined products on their maiden voyage out of the shipyard. However, now ship owners and operators have started to “clean up” tankers that traditionally traded crude oil and utilized them to transport refined products. What caused this development, what is involved and is this a temporary phenomenon, or is this operational innovation here to stay?