VLCC Utilization Up in November
Dec. 13, 2018
In November, VLCC utilization increased to the highest level observed since the beginning of the year at 60.55%, nearly as high as the level observed in November 2017 (60.58%). Through the first 11 months of the year, utilization has averaged 59.99%, compared to 61.95% in the same months of 2017 (Figure). Although both ton-day demand and ton-day supply decreased month-on-month, the pace of declines in the latter was greater than the former, placing upward support for utilization. Ton-day demand decreased by 1.0% month-on-month in November, a slight acceleration from the prior rate, while ton-day supply ...