CLARKSONS HELLAS – SnP WEEKLY

The main discussion over the past few months has consistently been the significant increase in Hormuz crude oil flows and the associated surge in tanker earnings.

Following the onset of the US-Iran crisis, cargo volumes shipped from the MEG to the East initially remained relatively modest amid the threats posed.

However, shuttle volumes through the strait subsequently increased significantly, reaching an estimated average of 10.5 mb/d in October.

This provided a small subset of the tanker fleet with the opportunity to become considerably more productive, as vessels only needed to carry cargoes over short distances for ship-to-ship transfers.

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