DIRTY TANKER QUARTERLY: West of Suez VLCC, Suezmax rates hinge on cargo conversion as forward gaps test market

AI Summary

Activity in West of Suez VLCC and Suezmax dirty tanker markets remained influenced by cargo availability and timing, with market sentiment shifting rapidly. The dynamics reflect fluctuating demand from Brazil and West Africa impacting freight rates and vessel bookings.

VLCC and Suezmax dirty tanker activity West of the Suez remained dominated by cargo availability versus booking timing, with sentiment shifting quickly as prompt windows were either covered cleanly or left exposed to list pressure. For VLCCs, the WAF-East and WAF-UKC directions reflected a recurring two-step dynamic: initial owner resistance when Brazil and WAF inquiries ...