Freight rates for dirty tankers in the West African (WAF) region have experienced a significant decline over the past week. This reduction is attributed to several factors, including lower cargo demand, a build-up of idle vessels, and a slowdown in the US Gulf market.
Supply-Demand ShiftThe downward trend in WAF tanker rates is primarily driven by a supply-demand imbalance. As cargo demand decreased and a surplus of free-of-cargo vessels accumulated, charterers gained more negotiating power,...
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