Increase in Suezmaxes in Fuel Oil Trade

Capt. John

In the East, Suezmaxes increased their share in the fuel oil trade in May, driven by Russian DPP cargoes and high HSFO demand in the Middle East. Long-range tankers from the Middle East are pivoting towards the Atlantic Basin, but weak European diesel demand is redirecting some voyages to the Pacific, potentially increasing competition with MR tankers. In the West, Aframax TD25 rates rose due to increased US Gulf-Europe inquiries and a shortage of Suezmax ballasters. Meanwhile, NW Europe’s MR2...

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