Poten's Weekly Opinion: Atlantic Basin Based

Aug 20 2020


How the pandemic changed Aframax flows and volumes.

Last, but not least, in our series about the impact of Covid-19 on crude oil tradeflows, we address the Aframax market. Unlike the VLCC and Suezmax tankers that we discussed in previous weeks, Aframaxes are predominantly employed in short-haul, regional trades. Global Aframaxes trades in the first six months of 2020 were down by an average of 26 voyages per month (3%) compared to the same period of 2019. However, similar to the other segments, the decline was not universal; some trades showed increased volumes, while others were down significantly. Let’s explore some of the differences to see if we can explain what is going on.

Download The Weekly Opinion

 



Related News

VLCC spot earnings $500 a day on slow steaming, non scrubber basis, Gibsons says

(Jul 23 2021)

Gibson Shipbrokers Weekly Tanker Market Report - Why So Weak?



Oil traders keep North Sea crude on tankers despite rally to $72

(Jun 15 2021)

Tankers are holding several million barrels of oil in the North Sea in what is normally a strongly bearish indicator.



Massive oil tanker blocks Bosphorus after steering controls reportedly malfunction

(Jun 03 2021)

Technical problems onboard a 249-meter-long oil tanker have led to a temporary suspension of traffic in the Bosphorus, conjuring uneasy memories of the Suez Canal blockage earlier this year.



Poten's Weekly Opinion: No Quick Fix

(May 20 2021)

The tanker market is out of balance.



Poor earnings prompt VLCCs to cut costs by idling, slow steaming

(Mar 18 2021)

Weak or negative returns for VLCCs hauling crude from the Persian Gulf to North Asia are prompting shipowners to adopt cost-cutting measures like curtailing sailing speed and idling their ships near Singapore or Sri Lanka’s port of Galle.



June-July 2021

Stena Bulk and decarbonisation - how BHP makes decarbonisation work financially - update on worldwide piracy - managing security risks of ECDIS - tanker inert gas systems