TANKER MARKET

摘要

The crude tanker market remained in the doldrums through August as i) crude import demand fell as refiners trimmed runs (due to poor margins and seasonal maintenance) and signs of de-stocking emerged, ii) Nigerian export disruption continued, iii) Venezuelan crude output fell further, iv) Chinese port delays eased (SSY preliminary figures put North East port delays in August at the lowest since at least 2014) and v) fleet supply grew. Atlantic MR earnings fell to the lowest since 3Q14 as swollen product inventories curbed arbitrage trade while more newbuilds entered the fleet. LR markets were the exception, with LR2s maintaining the gains from end-July until late in the month, while LR1s saw pockets of strength amid flurries of long-haul cargoes from the MEG to Asia, as well as to the West.