1. In December, average Aframax spot earnings increased 7% m-o-m to $45,361/day. This supported earnings rising 54% y-o-y to average $37,977/day in full year 2015. Meanwhile, the average one year timecharter rate for a crude Aframax increased 52% y-o-y in 2015 to $26,712/day. 2. Following estimated growth of 1.9% y-o-y in 2015, deadweight demand for uncoated Aframax tonnage is projected to increase by 0.9% y-o-y in 2016. Crude Aframax trade on the Intra Far East route is projected to grow by 5% y-o-y, partly supported by an expected increase in shipments from Eastern Russia to China. In the first 11 months of 2015 Chinese seaborne imports of Russian crude grew by 77% y-o-y and are expected to continue to grow into 2016. However, the port of Kozmino in Russia recently began marketing a limited number of crude cargoes for Suezmaxes and growth of this trend may impact on Aframax crude trade from Eastern Russia.
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