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

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.



Oil demand drag takes toll on tankers, U.S. refiners

(Mar 18 2021)

U.S. refiners are scaling back on hiring ships for longer periods to save on costs in another sign of uncertainty over when global oil demand will return to pre-COVID levels.



New tanker transforming the Panama Canal bunker industry

(Mar 11 2021)

In a pioneering tanker move, Monjasa enables outer anchorage bunker supplies off Cristobal.



2020: The rise and fall of Floating Storage

(Dec 17 2020)

Floating storage told the story of the extraordinary moves in oil demand and supply in 2020.



Japan extends Middle East mission to protect tankers

(Dec 17 2020)

Japan is extending its naval mission in the Middle East by one year until the end of 2021 to protect merchant oil shipping.



April-May 2021

Safety risks from digitalisation and decarbonisation - seafarer mental health - ABS advice on ballast water systems