1. In December, Suezmax average spot earnings fell slightly m-o-m to $56,491/day. In full year 2015, average spot earnings increased by 68% y-o-y to $46,713/day. Similarly, the average one year timecharter rate for a Suezmax increased 58% y-o-y in 2015. 2. In 2015, deadweight demand for Suezmaxes is estimated to have increased by 5.4% y-o-y. In 2016, demand is projected to rise by a further 3.0% y-o-y. Crude Suezmax trade on the AG-lndia route is projected to expand by 9% y-o-y, supported by a likely increase in Iranian exports, following the recent lifting of nuclear related sanctions coupled with reports that a number of Indian refiners have been readying themselves to import additional Iranian crude. Meanwhile, increased Iranian exports are also likely to be destined for the Mediterranean, with buyers in Greece, Spain and Italy all reportedly interested in importing Iranian crude now that EU sanctions have been lifted.
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