Crude Oil Tonne Miles Out Of The Gulf of Guinea Down By 5.9%

Capt. John
  • Gulf of Guinea crude oil exports have year-to-date contributed 13.7% of VLCC’s tonne miles demand and 16.5% of Suezmaxes.
  • A 13.5% y/y drop in Nigerian year-to-date crude oil output has been the main drain on demand and caused a 5.9% decline in tonne miles.

A recent news article published in the BIMCO states that crude oil tonne miles out of the Gulf of Guinea down 5.9% so far in 2022.

Gulf of Guinea exports

A further decline in Gulf of Guinea exports can be expected from mid-2023 when Nigeria’s...

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