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Wednesday, June 20, 2018

AFRAMAX RATES - WHAT’S BEHIND THE INCREASE?

The shipbrokers Poten & Partners argue that there are more than pure supply and demand factors behind the recent increase in Aframax rates.

In their 30 June 2000 report, they point out that owners have become more selective in negotiating trading options in order to maintain a high tanker utilisation rate. Changes in market psychology have been to the owners’ advantage and charterers have had a stronger preference for younger tonnage. Furthermore North Sea oil production has added little to demand, but temporary oil inventory building has.

For further market information, please visit the INTERTANKO tanker market pages